theley fisher will speak at central exchange in jackson hole, wyoming. rishaad: shery ahn with the latest stories we are looking. let's go back to the breaking news out of the philippines, the gdp data. 5.6% year on year. analysts were expecting 5.7% year on year. joining us now, the finance minister. straightas the third year of growth. we have been able to replace the profit assumption of. -- numbers. for the second quarter, expenditures were of 37%. that is a good sign. 47% of only spent about our budget for the year. we are hoping this will continue. -- the important point lowestines have the correlation coefficient of growth with china. for every percent of drop in , the impact on the philippines is .06. domestic consumption has been a big driver, supported by the fact that the philippines has had 13 straight years of growth. rishaad: you have been seen as a bit of a haven in the choppy waters as of late, even though the manila index was hit. how do you stay insulated? least volatile among the neighboring countries. shows the growth correlation with