According to Eurostat’s flash estimate, on a quarter-on-quarter basis, real GDP grew by 0.9% in the euro area in the second quarter of 2006, significantly above the 0.6% growth rate recorded in the previous quarter.
Microfinance institutions may also continue to expand and tap new markets, of course with appropriate caution and preparation. For instance, some microfinance institutions see market growth potential from returning overseas Filipinos who begin to engage in various entrepreneurial activities. From current indications, the global economic crisis has not negatively impacted Philippine microfinance.