Quantcast

Economic growth likely hit high end of ’12 target—official

By |

The Philippine economy likely hit the high end of its growth rate target in 2012 and would maintain a “high growth” in 2013, Economic Planning Secretary Arsenio Balisacan said in an interview Monday as the stock market rallied past the 6,000 mark.

Hitting the 5- to 6-percent growth target for 2012 “is no big deal,” Balisacan said, saying the economy was likely to have expanded by about 6.5 percent last year.

For the fourth quarter of 2012, he said the expansion of the gross domestic product (GDP) would definitely be higher than 4.5 percent, which was the minimum required for the Philippines to hit the higher end of the target for 2012.

Growth likely hit 6 percent in the last quarter alone, said Cid L. Terosa, economist at the University of Asia and the Pacific. At that level, full-year growth could hit 6.5 to 7 percent.

Former Budget Secretary Benjamin E. Diokno of the UP School of Economics had a slightly more conservative estimate of about 4.5 percent.

“I agree with Neda officials that this growth rate is attainable. In fact, I forecast that growth in the fourth quarter will be within the range of 4.5 percent to 5.3 percent.


Follow Us







Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

  • rayingga

    When are we going to feel the economic growth?

  • http://profile.yahoo.com/ERN64IINJUN3BPQMZNKKHUHFI4 Critical

    Whether it is 4, 5, or 7 percent is not important. The important thing to know is if this growth is inclusive.



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement
Marketplace