The Philippines is branded as the new tiger of Asia.

The Philippines is branded as the new tiger of Asia.

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epa03569057 High rise buildings loom over shanties in Paranaque city, south of Manila, Philippines, 05 February 2013. American economist Nouriel Roubini branded the Philippines and Indonesia as the the new tigers of Asia as they defied global economic trends, recording impressive growth rates, hitting historic highs in their stock markets, and attracting foreign direct investments. The Philippine economy grew at a faster-than-expected rate of 6.6 per cent in 2012, making it one of the best performing economies in Asia. The gross domestic product (GDP) growth was better than economists’ projections and the government’s target of 5 per cent to 6.3 per cent. EPA/FRANCIS R. MALASIG

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