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Economy

Philippines GDP beats target with 5.6% growth in 2021

Economy up 7.7% in Q4; bullish officials count on omicron wave being 'temporary'

People visit a newly reopened portion of Manila Bay filled with artificial white sand after COVID-19 restrictions were eased in October.   © Reuters

MANILA -- The Philippine economy expanded by 5.6% in 2021 after logging 7.7% growth for the fourth quarter, as loosened pandemic-related restrictions buoyed business activity.

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