Changes

====Today's Economy====  

====Today's Economy====  

[[File:Negros First Cybercentre (Hernaez, Bacolod, Negros Occidental; 10-31-2022) (1).jpg|right|thumbnail|300px|]]

[[File:Negros First Cybercentre (Hernaez, Bacolod, Negros Occidental; 10-31-2022) (1).jpg|right|thumbnail|300px|Negros First CyberCentre IT and BPO Hub in Bacolod city.]]

GDP grew by 5.4% in 2006, marking the first time since the 1970s with three consecutive years of growth over 5%. Historically, the Philippines has had difficulty sustaining growth at over 5%. GDP increased by 6% in 2004, a 15-year high, and by 5% in 2005. Growth in 2006 was fueled by increased electronics exports, growth in the outsourcing industry, and a 20% increase in remittances from overseas workers to $12.8 billion and about 11% of GDP. GDP growth is expected to finish 2007 closer to the upper end of the government's targeted 6.1%-6.7% growth range. Still, it will take a higher, sustained economic growth path to make more appreciable progress in poverty alleviation given the Philippines' annual population growth rate of nearly 2%--one of the highest in Asia.  

GDP grew by 5.4% in 2006, marking the first time since the 1970s with three consecutive years of growth over 5%. Historically, the Philippines has had difficulty sustaining growth at over 5%. GDP increased by 6% in 2004, a 15-year high, and by 5% in 2005. Growth in 2006 was fueled by increased electronics exports, growth in the outsourcing industry, and a 20% increase in remittances from overseas workers to $12.8 billion and about 11% of GDP. GDP growth is expected to finish 2007 closer to the upper end of the government's targeted 6.1%-6.7% growth range. Still, it will take a higher, sustained economic growth path to make more appreciable progress in poverty alleviation given the Philippines' annual population growth rate of nearly 2%--one of the highest in Asia.