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Updated Wednesday, September 9, 2009 10:49 am TWN, AFP

Philippines mulls raising 2010 GDP growth target

MANILA -- The Philippines economy could grow by up to four percent in next year, officials said on Tuesday, adding that the budget deficit is expected to fall within its target.

Economic Planning Secretary Augusto Santos told reporters: “We expect the economy to grow by 2.6-3.6 percent next year. Growth slowed to 4.6 percent last year and to 0.4 percent in the first three months of the year, forcing Manila to cut its 2009 outlook to between 0.8-1.8 percent.

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