(MENAFN) Philippines economic growth is set to outperform China's by 2016 as the island continues to overtake due to a strong domestic increase in businesses and industry, Gulf Times reported.
In the fourth quarter of 2014, the Philippine economy expanded by 6.9 percent, the highest since fourth quarter of 2010, while for the full year of 2014, the country's GDP grew 6.1 percent.
Meanwhile, China is cooling down its economy to make GDP growth more sustainable as it is suffering from light public debt, reduced domestic consumption and other obstacles.
China, instead, reached a "disappointing" 7.3 percent growth last year, and the forecasts for 2015 and 2016 are 6.9 percent and 6.7 percent, respectively, a Citibank study said.
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