The country is no longer in danger of falling into a recession, but will improve instead as forecasted by various foreign analysts. This is acoording to National Economic and Development Authority (NEDA) Deputy Director General Rolando Tungpalan.
Tungpalan said “the economy has demonstrated greater resiliency,” as US economy begins to get better. He adds that overseas Filipino workers (OFW) remittances have continued to pour in, with May records showing 3.7 percent growth.
Tungpalan has also reported that employment has risen recently in the Information and Communication Technology (ICT) sector and tourism industry. (PIA)
