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Philippine economic growth outlook raised, says economist

Nomura Securities Co. of Japan raised the economic growth outlook of the Philippines this year and next year on the back of higher government spending and higher investment arising from the take off of the public private partnership (PPP) programme of the Aquino administration.

In a report, Nomura economist Euben Paracuelles said the gross domestic product (GDP) growth forecast for the Philippines has been raised to 4.6 percent instead of 4.2 percent this year and to six percent instead of 5.6 percent next year.