Macroeconomic Forecast Philippines

Government View: Following growth of 5.4% in 2006, the government is targeting growth of 6.1-6.7% this year, and hopes to achieve close to 5% growth in the medium term. However, Finance Secretary Margarito Teves has said that an increase in investment is necessary to boost growth, adding that projected budget surpluses in 2009 and 2010 (of an estimated PHP12-17bn) should be channelled back into the economy to provide more jobs, boost growth and help relieve poverty.

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