Peace moves should boost Philippine GDP
One of the most important political and economic breakthroughs for the Philippines came in October last year when president Benigno Aquino finally agreed to a framework for peace with the Moro Islamic Liberation Front, the Muslim rebel group in Mindanao. It is hoped this will lead both groups to a final peace pact this year and allow for more inclusive economic development throughout the country, bringing thousands more people out of poverty. According to Standard Chartered, peace and political stability in Mindanao could add 0.1% to GDP growth at the end of 2013 and 0.3% by 2018. For the Philippines, the stars are finally aligned.