Goldman Sachs' new outlook for Philippine growth this year of 6.8% is in line with government projections and marks a significant upgrade from the investment bank's February forecast of 5.5%. "The Philippine economy is growing only second to China. ... The government has managed its domestic and external affairs quite well. ... From here on, everything can only get better," said Tim Leissner, vice chairman of Goldman's Asia ex-Japan investment banking division.

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