THE Philippine economy will likely grow by 7.4 percent this year, First Metro Investment Corp. (FMIC) and University of Asia and the Pacific (UA&P) Capital Markets Research said on Friday, hitting the government's 6.5- to 7.5-percent target.

In their November Market Call report, FMIC and UA&P Capital Markets Research said the forecast was largely influenced by robust third-quarter growth as well as record employment levels.

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