SUMMARY
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The 3 investment grade credit ratings the Philippines has recently won from global debt watchers caused business sentiment in the Philippines to reach a record high in the second quarter. Overall confidence index rose to 54.9% from the first quarter’s 41.5%, according to the quarterly Business Expectations Survey that the Bangko Sentral ng Pilipinas released on May 23. The index reflects the difference between the percentage of firms that answered in the affirmative regarding questions on a given sector, and the number of firms that answered in the negative.
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