Philippine 2017 Growth Within Target
Philippine 2017 Growth Within Target

Philippine 2017 Growth Within Target

Philippine 2017 Growth Within Target

The Philippine economy is widely expected to grow within target for the full-year 2017, given the higher infrastructure spending in the fourth quarter, First Metro Investments Corp. and the University of Asia and the Pacific said in a report released Monday, GMAnetwork reported. “2017 ended with a bang! With infrastructure spending soaring by 45% in November and exports still on the rise, our GDP growth forecast of 6.5 to 7% for the full year 2017 appears to be a no-brainer,” FMIC and UA&P said in the January 2018 issue of “The Market Call.” The inter-agency development Budget coordination committee targets the gross domestic product to grow by 6.5- to 7% in 2017, and 7- to 8% in 2018 to 2022. The department of budget and management reported earlier this month a 44.8% growth in infrastructure spending last November, driven by the “Build, Build, Build” program. According to the Philippine Statistics Authority, exports reached $4.96 billion in November 2017, up 1.6% higher a year earlier. The Philippine economy grew by 6.4% in the first quarter, 6.7% in the second and 7% in the third quarter.

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