Resilient amidst the changing times
The Philippines is 1 of the 4 Asian countries to escape recession (aside from China, Vietnam and Indonesia)
Positive outlook on economic growth
US investment bank Citigroup has upgraded the countryï¿½s Protected content forecast to 5.5 percent (instead of 5.2 percent) after the Philippines posted 7.3 percent growth in Protected content its strongest economic growth in 34 years.
Strong economic indicators
45 quarters of continuous economic growth
Inflation Protected content 3.5%
GDP Protected content %
PHL Peso: Php43.84 = US$1
OFW remittances grew by 8.17 percent to US17.06 billion
ï¿½The banking sector (in the Philippines) is reasonably isolated from whatï¿½s been going on internationally, that includes both exposure to sub-prime and other assets with questionable values.ï¿½
ï¿½ James McCormack, Fitch Ratings, in the London-based firmï¿½s decision to keep its stable outlook for the Philippines because of its monetary and financial stability
The local banking industry has a P5-trillion asset base and a P500-billion capital base.
Strong spending power because of an emerging Middle Class
Remittances by Filipinos working overseas are expected to grow to P40B in Protected content .
source : Protected content
Ray Kenneth Quezada
CENTURY SALES OFFICER
CENTURY PROPERTIES GROUP, INC.
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corner Makati Ave , Makati City
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