Increasing per capita GDP in PH, a transitory progress


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Photo credit: Filipino Times

Capita per Gross Domestic Product (GDP) of the Philippines at the present, accounts an average of 2,891.36 USD ,the highest average since 1960.  The average capita per GDP in PH from 1960-2017 is 1627.98 USD.

The growth rate of  77.6% signified that Filipinos do well in Duterte’s administration. Development is brought about by the slow population growth. Macrostability is also significant in the progress.  More importantly, 54.5% increased in fixed-capital formation (investement) in the second quarter in 2018 was determined to contribute as well in per capita GDP.

At the end of 2017, it was accounted that Philippine economy grew at 6.9%, better than the third quarter of 2016. The present economy in the country is working at 6% and expected to increase until the end of 2018.

However, this progress is only transitory, a temporary progress. Despite of the increasing per capita GDP, “Philippines’ per-capita GDP is equivalent to 23% of the world’s average, which makes Filipinos poor”, according to Forbes. This is attributed from the soaring inflation of 6.7% in September. This is also the highest record so far since 2009.

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