Growth rate for smaller country like the Philippines means nothing.
A single even can influence its economy significantly.
As majority of PH people are still poor, spending too much money on defense means nothing.
Their military force is still far behind..
A single even can influence its economy significantly.
As majority of PH people are still poor, spending too much money on defense means nothing.
Their military force is still far behind..
If you have not noticed, the Philippines has a fast growing economy second only to China in terms of growth rate. With their economy maturing, they can afford greater defense expenditure.