Wazzup Manila Philippines

Wazzup Manila is where you will read about the latest news and trends in Manila Philippines.

This web portal contains articles on lifestyle, dining, shoppping, wellness as well as travel to all parts of the Philippine islands.

Be part of the community, participate in the forums, place a classified ad or browse through the Metro Manila business directory.

The Republic of the Philippines regroups 7,107 islands , the land area is 298,170 sq km and has a population of 88,000,000. It is the only country in South East Asia that has no land borders.

There are tweleve important regional languages:

Tagalog, Cebuano, Illocano, Hiligaynon, Waray-Waray, Kapampangan, Bikol, Pangasinan, Kinaray-a, Maranao, Maguindanao and Tausug.

The Philippines Economy

The Philippine economy expanded with real GDP growth exceeding 7% in 2007. It is the rapid expansion in three decades. Increased government spending was an important factor to the growth, but a resilient service sector and huge remittances from the millions of Filipinos who work overseas have played an increasingly important role.

Economic growth has averaged 5% since President MACAPAGAL-ARROYO took office in 2001. Nevertheless, the Philippines will need still higher, sustained growth to make progress in alleviating poverty, given its high population growth and unequal distribution of income. MACAPAGAL-ARROYO averted a fiscal crisis by pushing for new revenue measures and, until recently, tightening expenditures.

Declining fiscal deficits, tapering debt and debt service ratios, as well as recent efforts to increase spending on infrastructure and social services have heightened optimism over Philippine economic prospects. Although the general macroeconomic outlook has improved significantly, the Philippines continues to face important challenges and must maintain the reform momentum in order to catch up with regional competitors, improve employment opportunities, and alleviate poverty. Longer-term fiscal stability will require more sustainable revenue sources, rather than non-recurring revenues from privatization.