The Philippines defies external challenges to notch up growth - OBG

The Philippines defies external challenges to notch up growth

Strong domestic demand for a broad range of goods and services is galvanising economic growth in the Philippines, helping the country to buck a regional slowdown. Consumer confidence remains high, buoyed by news that the government plans to roll out several big-ticket infrastructure projects, in part aimed at creating jobs. However, the Philippines remains vulnerable to many of the external factors that are weighing on its peers.
The economy expanded at an annual rate of 7.5% in the period April to June 2013, according to the Bangko Sentral ng Pilipinas (BSP), marking a fourth consecutive quarter of growth over 7%. Commenting on the figures, ... Read more.

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