Since 2010, GDP growth under President Benigno S. Aquino III was an average of 6.2 percent -- the highest in four decades, and coinciding with the Great Recession. GDP is projected to increase more than six percent this year and next. By contrast, average GDP growth in the country was 4.4 percent between 1999 and 2009. Clearly, Aquino's 'medicine' for the Philippines has worked very well. We are now in the last six months of the presidency of Benigno Aquino III. Final evaluation of his administration’s impact on the nation is premature. However, it is now possible to assess where the present administration has taken the economy and, in consequence, the nation. Judging the economy. There are many ways by which we may judge the economy’s performance. One way of assessing the economy is to focus on macro-trends and performance: what has happened to overall growth, fiscal and monetary policy, trade payments and saving and investment. I intend to do this today. A second way to focus on the economy is to point out deficiencies and gaps in performance. Shortcomings could highlight weaknesses that need correction. This type of assessment will be made next week. Growth. The gross domestic product (GDP) grew by an average of 6.5 percent up to 2015. Because of the election year spending in 2016, the growth rate of 6.5 percent could even be exceeded. However, world economic conditions continue to be uncertain and volatile, and less optimism is warranted. With the population growth rate of around two percent per year during this period, per capita output has grown by 4.5 percent. This is a substantial record of per capita growth for a sustained period in Philippine economic history. Such record of growth in current years has been outstanding in the context of East and Southeast Asia. The Philippine performance marks a bright spot in a fairly depressed economic world in this decade. Drivers of growth. The main drivers of growth have provided a flow of incomes to stimulate consumption expenditures. These growth drivers are led by OFW remittances and earnings from the expanding BPO (business process outsourcing) industries. OFW remittances have grown from $20 billion in 2010 to almost $30 billion by 2015. BPO earnings have surged and are moving close to the same magnitudes of OFW remittances. Both have strengthened the balance of payments that served to sustain the growth of domestic consumption demand.