Philippine economic growth quickens to 5.6pc in Q2
Philippine economic growth quickened in the second quarter, the government said Thursday, placing the country in a better position to weather the global fallout from China's economic woes.
Officials credited the growth to "prudent fiscal management" and policies pursued by President Benigno Aquino, which has helped transform the country into one of the fastest-growing economies in the region.
Boosted by higher government spending, the April to June gross domestic product (GDP) grew 5.6 percent, outpacing the 5.0-percent growth in the previous quarter, which was the lowest in three years, Economic Planning Secretary Arsenio Balisacan said.
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