Philippines

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The Philippines is embarking on a programme of ramped-up spending, with a new budget allotting a significant amount to infrastructure projects and the government calling on local banks to help provide capital for public works.
Observers can add one more reason to be puzzled about what lies ahead for the country's economy in 2008.
Despite worries of a slowing US economy and an increasingly strong peso, the Philippine National Economic and Development Authority (NEDA) recently reported that exports jumped 21.4% for the month of December.
The business process outsourcing industry, the fastest growing sector in the Philippines, expects to rake in more outsourcing and offshoring accounts this year despite the economic drag caused by a weakening global economy.
There is a general sense of achievement in the Philippines after it has surpassed a challenging 2007, coming out with stronger industries and a more vibrant economy.
The government of the Philippines plans to use state funds to address high power rates.

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