The Philippine economy is gradually on the
rise, largely driven by its business process outsourcing, industry
and construction sectors. The average pace of growth in the
Philippines in the first half of the decade was 6.3%, compared to 6%
in Indonesia, 5.8% in Malaysia and Vietnam, and 3.6% in Thailand. The
government has been widely commended for its efforts to improve
business conditions and reduce corruption, while a relatively
conservative fiscal policy has helped boost the economy’s credibility
and steer investment into the private sector.
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