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NMIL, UNMIS, UNMIT, UNOCI, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO Diplomatic representation in the US: chief of mission: Ambassador Willy C. GAA chancery: 1600 Massachusetts Avenue NW, Washington, DC 20036 telephone: [1] (202) 467-9300 FAX: [1] (202) 467-9417 consulate(s) general: Chicago, Honolulu, Los Angeles, New York, San Francisco, Saipan (Northern Mariana Islands), Tamuning (Guam) Diplomatic representation from the US: chief of mission: Ambassador Kristie A. KENNEY embassy: 1201 Roxas Boulevard, Ermita 1000, Manila mailing address: PSC 500, FPO AP 96515-1000 telephone: [63] (2) 301-2000 FAX: [63] (2) 301-2399 Flag description: two equal horizontal bands of blue (top; representing peace and justice) and red (representing courage); a white equilateral triangle based on the hoist side represents equality; the center of the triangle displays a yellow sun with eight primary rays, each representing one of the first eight provinces that sought independence from Spain; each corner of the triangle contains a small, yellow, five-pointed star representing the three major geographical divisions of the country: Luzon, Visayas, and Mindanao; the design of the flag dates to 1897; in wartime the flag is flown upside down with the red band at the top Economy Philippines Economy - overview: The Philippine economy grew at its fastest pace in three decades with real GDP growth exceeding 7% in 2007. Higher government spending contributed to the growth, but a resilient service sector and large remittances from the millions of Filipinos who work abroad have played an increasingly important role. Economic growth has averaged 5% since President MACAPAGAL-ARROYO took office in 2001. Nevertheless, the Philippines will need still higher, sustained growth to make progress in alleviating poverty, given its high population growth and unequal distribution of income. MACAPAGAL-ARROYO averted a fiscal crisis by pushing for new revenue measures and, until recently, tightening expenditures. Declining fiscal deficits, tapering debt and debt service ratios, as well as recent efforts to increase spending on infrastructure and social services have heightened optimism over Philippine economic prospects. Although the general macroeconomic outlook has improved significantly, the Philippines continues to face important challenges and must maintain the reform momentum in order to catch up with regional competit
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