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Philippine Growth Stable

Philippine Growth StablePhilippine Growth Stable

Credit rater S&P Global Ratings maintained its growth forecast for the Philippines, noting that the second-quarter expansion is in line with its expectation, PNA reported. “The gross domestic product growth remained strong at 6.5% in Q2, in line with our estimate of potential growth,” it said in a report released on Tuesday. S&P’s 2017 forecast fell short of the government’s 6.5% to 7.5% target, representing a slowdown from last year’s actual GDP growth of 6.9%.The Philippine economy grew by 6.5% in the second quarter of the year, down from 7.1% a year earlier but firmer than the 6.4% recorded in the first three months of 2017.

 

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