Philippine economy could grow 6.5-6.6% this year: incoming econ chief

[MANILA] The Philippine economy could grow between 6.5 and 6.6 per cent this year, below the bottom end of the official growth target, the country's incoming economic planning chief said on Thursday.

The outgoing administration of President Benigno Aquino has set a GDP growth target of 6.8-7.8 per cent for 2016.

"I think it would be approaching 7 per cent, 6.5 to 6.6, in that neighbourhood," incoming Economic Planning Minister Ernesto Pernia said in a live interview with ABS-CBN News Channel.

The Philippine economy posted its fastest annual growth in nearly three years in the first quarter at 6.9 per cent as strong domestic demand and investments offset sluggish exports.

REUTERS