World Economy

Philippine GDP to Expand

Philippine GDP to ExpandPhilippine GDP to Expand

Most private banks and think tanks have revised upward their full-year growth estimates for the Philippine economy; sharing the government’s view that growth rate this year will hit the target of 6-7%, Yahoo reported. Following the release late last week of data showing the 7% expansion in gross domestic product in the second quarter, the country’s chief economic planner, the socioeconomic planning secretary, Ernesto Pernia, said that the second-quarter result supports the probability of attaining the revised growth projection for the year. The second quarter result has led seven financial institutions to review their 2016 outlook and adjust their projections upward.