INVESTMENT bank First Metro Investments Corp. (FMIC) and the University of Asia and the Pacific (UA&P) are optimistic that the Philippine economy accelerated in the fourth quarter of 2021 and will continue to gain up this year.

They said in a joint report released on Monday that the economy will grow at a rate of 5-6 percent for the full year of 2021, as greater easing of Covid-related restrictions and sharply decelerating cases have prompted businesses to reopen and consumers to loosen their purse strings beginning in November last year.

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