Palace welcomes Q2 GDP growth, hopes upward trend prevails until yearend

Presidential Spokesperson Ernesto Abella
INQUIRER FILE PHOTO/JOAN BONDOC

Malacañang on Thursday expressed optimism that the Philippines would maintain its economic growth for the rest of 2017 after the economy expanded by 6.5 percent in the second quarter.

READ: PH GDP grew 6.5% in Q2 of 2017

“We welcome this morning’s announcement by Socioeconomic Planning Secretary Ernesto M. Pernia of the National Economic and Development Authority (NEDA), that our gross domestic product (GDP) grew by 6.5 percent in the second quarter of 2017,” Presidential Spokesperson Ernesto Abella said in a statement.

“This figure, which falls within the full-year target growth of our economic managers, puts us as one of the fastest growing major economies in Asia,” Abella added.

The 6.5-percent growth was an increase from the 6.4 percent in the first quarter of 2017 though it was slower than the 7.1 percent in the same period last year.

The government targets 6.5 to 7.5 growth in 2017.

“Indeed, our growth momentum is on track and that we would sustain our pace for the rest of the year as we continue to lay down the foundation of a comfortable life for all through increased investments in infrastructure and social protection,” Abella said. JPV