SUMMARY
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For the second year in a row, the Philippines jumps another 10 spots in the World Economic Forum’s Global Competitive Index. It is now 65th among 144 countries in 2012. WEF says the Philippines made “important strides in improving competitiveness” highlighting the macroeconomic environment, which it says represents “one of the strongest aspects of the Philippines’ performance.” In the first quarter of 2012, the Philippines was the fastest growing economy in Southeast Asia, second only to China in Asia. For the second quarter, growth rate hit 5.9%, second to Indonesia. WEF also points out weaknesses that need to be addressed, particularly in infrastructure.
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