MikeLigalig.com

The Philippine economy grew 7.5 percent in the second quarter compared to a year ago, the fastest rate in two decades, President Gloria Macapagal Arroyo said Thursday.

"Our economic plan is working. Today we have the latest glowing indicators to show it," a beaming Arroyo told a nationally televised news conference on the better-than-expected data.

She said gross national product, which includes income from abroad, rose 8.3 percent for the second quarter from a year ago.

First-quarter economic growth, excluding the overseas income, was revised upward to 7.1 percent from the original 6.9 percent, pushing first-half GDP to an average 7.3 percent from a year ago, she added.

source: forbes.com