Philippine Peso Advances After Competitiveness Ranking Improves
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The Philippine peso and bonds rose after the nation’s ranking improved in an international competitiveness survey.
The Southeast Asian country placed 65th in the World Economic Forum’s 2012 Global Competitiveness report released yesterday, 10 levels better than last year. The government is ready to support growth and will accelerate spending to meet the top end of a 5 percent to 6 percent growth estimate this year, Economic Planning Secretary Arsenio Balisacan said on Aug. 30.