Philippine growth at 17-year high

President Gloria Arroyo was delighted with the figures

The Philippine economy grew at its fastest rate in 17 years in the first three months of 2007, boosted by all major economic sectors.

Official figures showed that the economy expanded at an annual rate of 6.9% during the first quarter, way above market expectations,

The service sector led the rise, growing by 9%, followed by industry, up 5%, and agriculture, which grew by 4%.

"The Philippines is on a roll," said President Gloria Arroyo.