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Philippines tops 2012 growth target

31 January 2013 No CommentEmail This Post Email This Post

MANILA (AP) — The Philippine economy expanded 6.8 percent in the fourth quarter of last year, lifted by a strong performance from service industries, the government said Thursday.

It said the robust growth was led by household spending, helped by low inflation and remittances from millions of overseas workers.

Economists have credited renewed confidence in the Philippines on President Benigno Aquino III’s push to reduce graft and improve governance following a succession of corrupt governments.

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