IN his annual shareholder letter, Warren Buffett, one of the most successful investors of our time, provided this insight: "Be fearful when others are greedy and greedy when others are fearful." These words resonate profoundly in the context of today's uncertain business climate — reminding us that amidst volatility and uncertainty, lies the greatest potential for investment opportunities.
The Philippines stands at a pivotal moment in its economic journey, navigating through the challenges posed by the global pandemic while steadfastly pursuing sustainable growth and prosperity. We are fortunate to have several tailwinds propelling us forward: a young and growing population, a stable political system, and a robust financial infrastructure. Notably, from 2009 to 2019, our GDP surged with an average annual growth rate of 5.9 percent, outpacing both the advanced economies average growth rate of 1.6 percent, and the developing and emerging countries' average growth of 4.8 percent. And despite recent challenges, the Philippines has displayed remarkable resilience, evidenced by an impressive GDP growth of 6.6 percent over the past two years, continuing to exceed that of the world and the Asean's growth rates.
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