(Bloomberg) -- The Philippine economy may grow at the
fastest pace in three years in 2007 as an appreciating peso cuts
interest payments on the government's debt, freeing up capital
for spending, Budget Secretary Rolando Andaya said.
A 6.3 percent gain in the peso this year may save 23.8
billion pesos ($515.7 million) in interest, Andaya said in an
interview in Manila. Strength in the currency has already shaved
15 billion pesos off the 318 billion pesos allocated for interest
payments in 2007, Budget Director Gisela Lopez said.
Read more at Bloomberg Currencies News
fastest pace in three years in 2007 as an appreciating peso cuts
interest payments on the government's debt, freeing up capital
for spending, Budget Secretary Rolando Andaya said.
A 6.3 percent gain in the peso this year may save 23.8
billion pesos ($515.7 million) in interest, Andaya said in an
interview in Manila. Strength in the currency has already shaved
15 billion pesos off the 318 billion pesos allocated for interest
payments in 2007, Budget Director Gisela Lopez said.
Read more at Bloomberg Currencies News
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