Philippines posts robust 6.9% growth in 1st qtr

May 31, 2007

The government said today that the Philippine economy grew by an impressive 6.9 percent in the first quarter of 2007, surpassing the forecast of between 5.3 and 6.1 percent. The services sector proved crucial for this growth, growing at 9.1 percent. “The Philippines is on a roll,” President Gloria Macapagal-Arroyo said this morning in Australia.