RP economy to grow 7.1%

RP economy to grow 7.1%

MANILA (AFP): Philippine President Fidel Ramos forecast
yesterday the country's gross national product (GNP) would grow
7.1 percent year-on-year in 1996.

"The latest reports indicate that economic growth this year is
likely to hit 7.1 percent, up from 5.5 percent last year and 5.1
percent the year before," Ramos said.

The president was speaking to delegates at an international
conference of local government officials.

Economists have predicted 6.5-to-7.5 percent annual growth in
the Philippines' GNP, which climbed 7.06 percent year-on-year in
the first half of 1996.

Ramos attributed the growth forecast to "efforts at rebuilding
relations with ... three major dissident groups," referring to
the country's Moslems, communists and former military rebels.