Philippine economy could grow 6.5-6.6% this year: incoming econ chief
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[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
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
