Adds further comments
MANILA, Oct 24 (Reuters) – Philippines Finance Secretary Benjamin Diokno said on Monday the country’s full-year growth target of 6.5% to 7.5% was “very much doable”, and the economy can weather external headwinds.
The Southeast Asian country’s gross domestic product PHGDP=ECI was 7.4% higher in the June quarter than a year earlier.
Diokno said the Philippines was in a much better position to deal with external shocks, citing strong foreign exchange inflows from cash remittances of Filipinos overseas plus business process outsourcing revenues – key drivers of the economy.
“The Philippines is in much better shape than most other countries… in addressing these external developments,” he told a business forum.
(Reporting by Karen Lema; Editing by Martin Petty)
((enrico.delacruz@thomsonreuters.com))
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