PHILIPPINES PAINT SECTOR BENEFITS FROM GROWTH – BUT NEEDS TO WATCH EXPORT PERFORMANCE
February 1st, 2013
THE PHILIPPINES economy seems to be showing growth that many parts of the Western world can only dream of, in turn boosting production and purchases of paint and coating. According to the Philippines Central Bank (Bangko Sentral ng Pilipinas - BSP), growth in 2012 was around 5.5%, and is forecast to hit 7% in 2013, with “accelerated” government spending on structural projects such as hospitals and schools boosting paint demand.“The Philippine economy did better than expected in 2012,” said Johnson Ongking, president of the Philippines Association of Paint ...
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