Thursday, May 30, 2013

PH competitiveness rank jumps to 38th (via Rappler)

The Philippines was one of the most improved countries in the region in the 2013 World Competitiveness Yearbook (WCY) ranking.
The country improved 5 notches to 38th out of 60 countries worldwide on the back of strong macroeconomic fundamentals and upbeat investor confidence. In 2012, the country ranked 43rd out of 59 countries.
Among its peers in the Asia-Pacific, the Philippines, with its score of 63.146, bested Indonesia and India which ranked 39th and 40th, overall.
Data showed that this is the best performance of the Philippines since 2009. The country's latest ranking beat the 39th overall rank it posted in 2010.
"The country has reversed two consecutive years of decline and it is now 11th among Asia-Pacific countries in the sample (compared to 13th in 2009). The Philippines has now overtaken both India and Indonesia in the sample of Asia-Pacific countries of the WCY," AIM Policy Center said in a report.
"Backed by a robust 6.6% GDP growth – the second highest in Asia – a soaring stock market, and an upgrade to investment grade by two major rating agencies, the Philippines has been hailed by many analysts as the next economic tiger of Asia," it added.

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