Philippine economy expands 6.9 percent in first quarter

MANILA (AFP) - The Philippines said its economy grew at the fastest rate in nearly 20 years in the three months to March, expanding by 6.9 percent compared with a year earlier.

"The Philippines is on a roll," President Gloria Arroyo said in a statement issued from Australia, where she is on a state visit.

"We have just received the report of our first quarter performance and we're happy to say that the Philippines grew 6.9 percent in the first quarter of 2007.

"This is the fastest in almost two decades."

She said the services sector grew 9.1 percent, industry 5.3 percent and agriculture 4.2 percent.