The cover art, showing vibrant, dynamic splashes of color forming a circle, represents the virtuous cycle the Philippines has earned for itself after restoring confidence in its economy, institutions, and people.

The major disasters that hit the country, causing loss of thousands of lives, displacement of several millions of people, major disruption in the utility services in the severely affected areas posed a threat to our economy. Nonetheless, the country still managed to muster a 7.2 percent real gross domestic product (GDP) growth in 2013 outpacing other Southeast Asian peers, next to Lao PDR.

For much of 2012, the Philippines was the center of economic gravity in the Association of South East Asian (ASEAN) Region, posting a better than expected 6.6 percent Gross Domestic Product (GDP) growth rate to become one of the fastest growing economies in the world.

Economic Highlights: In 2011, the Philippine economy grew by 3.7 percent in face of macroeconomic headwinds and natural calamities that roiled the global economy. Slow US recovery, sovereign det turmoil in the euro zone, political unrest in the Middle East and North Africa (MENA), the 9.0 magnitude earthquake, tsunami and nuclear fallout in Japan, and heavy flooding in Thialand, among others, challenged the economies of the Philippines and the Asia Pacific Region.

Economic Highlights: In 2010, the Philippine economy grew by 7.6 percent, recording one of its best performances since 1976. On a regional level, this strong recovery compares well with Thailands 7.8 percent growth and Malaysias 7.2 percent growth. Global economic recovery, rebound in exports, rise in consumer and business spendsing alongside renewed public trust in the new administration, all paved the way for this economic feat.