The Philippines: Weak institutions drag on economic performance   

After two years of slow growth — owing primarily to the repercussions of the 2008 global financial and economic crisis — the Philippine economy expanded by 7.5 per cent in the first three quarters of 2010. The growth rate in 2010 is nearly equal to that of 2007 which is not surprising since economic activity in both years was boosted by election spending. The new administration has therefore benefited from favourable economic conditions. The challenge is to sustain the momentum and make economic growth more inclusive and balanced. (East Asia Forum)

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