Philippines's Tentangco notes strong performance

The Filipino economy achieved the ideal confluence of high growth and low inflation in 2007, said Amando Tetangco, Jr, the governor of the central bank.

The economy expanded by 7.1% in the first three quarters of 2007, the highest rate of growth in 30 years. Inflation remained relatively low at 3.2%, way below the central bank's 4% to 5% target range for the year.

However, Tetangco said he expected stormier times ahead: "What do we foresee for 2008? We anticipate some headwinds, but they are

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