Philippine Economy Expands by 7% in Second Quarter of 2016

Philippine gross domestic product (GDP) increase by 7% in the second quarter of 2016, as the economy was buoyed up by spending from the May elections. The expansion further builds upon the 6.9% growth registered in the first quarter. Higher remittance levels also contributed to the rise in the economy, as well as the net inflow of foreign direct investments despite a transitory dip recorded in May. Economic officials forecast…

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