Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said Tuesday the Philippines is on track to extend the 72 consecutive quarters of economic growth as macroeconomic fundamentals remain strong.

“Barring external shocks, we are on track to extend that streak [of 72 consecutive quarters of economic growth],” Tetangco said in a speech during the Management Association of the Philippines general membership meeting in Makati City.

Tetangco, however, said external challenges continued to threaten the economy, including the recent rate hike by the US Federal Reserve. “The prospects of higher interest rates in advanced economies may cause outflows in emerging market economies, including the Philippines. The Philippines has actually seen capital reversals as early as last year,” Tetangco said.

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