THE Philippine economy is still doing quite well despite the country's current financial difficulties, the top official of the National Economic and Development Authority (NEDA) said.

In an email to The Manila Times, Socioeconomic Planning Secretary Arsenio Balisacan, who also heads the NEDA, said that the country's gross domestic product (GDP) growth of 7.8 percent in the first semester was among the best in the Association of Southeast Asian Nation member-countries.

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