The Philippines economy actually grew 7.6% and not the 7.3% originally reported, says its government. President Benigno Aquino announced the news yesterday at a government forum, saying the original figure was ‘a mistake’.

This is, though, the kind of mistake you want to see in the headlines. Even the original figure marked the Philippines’ highest annual growth since 1986, when the Marcos regime was overthrown and democracy restored. It’s also a huge increase on 2009′s figure of 0.9%.

The growth is another sign of worldwide recover from the global financial crisis, but also signals investor confidence in the Philippines new administration, which came to power last year with promises to fight corruption.

source & article: Channel NewsAsia