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CHED Approves Tuition Increase

The Commission on Higher Education (CHED) announced that a total of 313 private Higher Education Institutions (pHEIs) have been approved for an increase of tuition and other school fees for School Year 2015-2016.

In an official statement, CHED Chairperson Patricia Licuanan said that of the 313 pHEIs, 16 percent or 283 pHEIs will implement tuition fee increase; while 12.60% or 212 pHEIs will increase other school fees. “Across all regions the average percent increase is 6.48%.”

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Philippines Still Has Bright Economic Future

For the third quarter of 2013, the country’s gross domestic product (GDP) grew by 7.0% year-on-year, slightly lower than the Bloomberg consensus estimate of 7.1% and BPI Asset Management’s forecast of 7.2%.

Nevertheless, the figure still brings average GDP growth for the first three quarters of the year to 7.4%, higher than the government’s target of 6%-7% for 2013. Compared to its regional peers, the Philippines is still one of the fastest growing countries, falling slightly behind China’s 7.8%.

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GDP Grew at 7.5% YOY for Q2

The Philippine economy grew by a robust 7.5% year-on-year during 2Q2013, topping the Bloomberg consensus estimate of 7.2%. The result was the highest recorded for the Asia Pacific Region, but slightly lower than the downwardly revised 7.7% growth recorded in 1H2013.

The second quarter reading also brought the 1H average growth rate to 7.6% year-on-year. Among the ASEAN region, the Philippines distinguished itself with domestic-led economic growth, while trade-dependent peers continue to suffer from falling export receipts underpinned by weakening global demand for commodities.

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