Philippine economy ricochets to
post a 6.4-percent growth in second quarter and regain status as one of the
strongest in Asia.
The private region took the lead
as economy recovered from relatively modest expansion of 5.6 percent in first
quarter, due to impact of natural disasters.
"This higher increase rate, coming
from high base year ago, shows that Philippine economy is back on the higher
trajectory of its growth," Economic Planning Secretary Balisacan
said.
"We continue to be one of the
bright spots in the region, and the second fastest growing economy among major
Asian countries for this period, tied with the Malaysia’s performance."
The latest figures for first half
of 2014 was up to 6.0 percent and boosted optimism that Philippines would still
attain its target growth for the this year.
Independent economists gave optimistic
assessments for Philippines, nation with 100 million people which in recent
years seen its economy surge after long lagging behind most of its Asian neighbors.
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