IN 2007, the Philippines was one of the fastestgrowing economies in Southeast Asia, posting a real gross domestic product growth rate of 7.3%, which was its fastest rate of growth for three decades and comparable to that of India. In 2007, exports amounted to US$48.4 billion (US$47.4 billion in 2006), inflation rates were low at 2.8% and the peso strengthened from an average of PP51:US$1 in 2006 to PP44:US$1. Foreign investments, meanwhile, rose to US$2.93 billion.
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