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Philippine Growth to Pick Up in 2Q

Philippine Growth to Pick Up in 2QPhilippine Growth to Pick Up in 2Q

Philippines economic growth will meet at least the low end of government’s target this year, with job-generating investments helping sustain the momentum, a cabinet official told lawmakers on Tuesday, abs/cbn reported. The government has set a 6.5-7.5% gross domestic product growth goal this year and 7-8% annually from 2018 to 2022. The economy expanded by 6.4% in the first quarter. Socioeconomic Planning Secretary Ernesto Pernia said the government would spend P8.1 trillion ($16 billion) throughout President Rodrigo Duterte’s term to build new roads, bridges and airports to help spread growth to the countryside.

 

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