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"Mining represents an extra gear for the Philippine economy once the regulatory environment is rationalized," Purisima said. The government's peace agreement with Muslim rebels, once completed and fully implemented, represents another extra gear that will unlock the significant potential of the southern Mindanao region, he said. The Philippine Stock Exchange index on Wednesday surged to its 31st all-time closing high for the year, buoyed by the GDP figures. The index gained 47.27 points or 0.9 percent, ending at 5,633.72 points.
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