The Bangko Sentral ng Pilipinas stressed that the economy would not slide into a recession.
This is amid the disappointing GDP growth for Q1 2009. BSP Governor Amando Tetangco Jr. said that there were reasons to be optimistic as remittances remain strong, inflation is easing, investor appetite is slowly recovering and the BPO sector continues to grow.
Tetangco said the BSP was prepared to implement more measures that would help accelerate growth of the economy following the near-zero growth in the first quarter.
Inquirer
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