Barclays raises PH growth forecast

Posted at Jan 15 2013 10:36 AM | Updated as of Jan 15 2013 06:36 PM

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British bank Barclays raised its Philippine growth projection amid election spending and improving demand for exports.

Barclays said the economy will grow 5.9% this year, higher than its previous projection of 5.6%. Moreover, it said the economy probably grew 6.5% last year.

The bank also said it expects the country to get an investment grade rating in the second half of the year, allowing more foreigners to invest.

ANC Business Nightly, January 14, 2013.