Economy expected to grow 5% in 2012.

By bne IntelliNews November 20, 2012
Philippines economy is expected to grow 5% this year, while it posted an average growth of about 5% during the last 10 years. As reported by Middle East North Africa Financial Network (MENAFN), International Monetary Fund's (IMF) Managing Director, Christine Lagarde, stated that the country is the first in the world to receive an upgraded growth forecast from the IMF. The economy grew 6.1% in the first half of the year and the average inflation was recorded at 3.2% in the first ten months of the year.

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