RP to boost growth via policy, spending

The Philippines is seeking to thwart the effects of the financial crisis with easier monetary policy and higher government spending, authorities said, in an effort to keep a lid on unemployment which is one of the highest in the region.

Remittances from overseas workers, which reached nearly 11 percent of gross domestic product last year, will be flat at around $ 16.4 billion this year after double-digit growth in at least the last 6 years, the central bank said.

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