Palace confident 6.4% 1st-quarter growth sustainable

Abigail Valte spokesperson for President Aquino. INQUIRER file photo

MANILA, Philippines—Malacañang expressed confidence Thursday that the Philippines would maintain “the positive trajectory” of the 6.4 percent GDP growth registered in the first quarter.

“It is the highest first-quarter GDP [gross domestic product] growth in a non-election year since 2006; the second highest in Asia; and the highest growth rate in the entire Asean region for this period,” Abigail Valte, a spokesperson for President Aquino, said after the National Economic Development Authority released the growth figures.

“We are confident that the positive trajectory of our GDP growth will be sustained in the latter quarters of this year, which have traditionally demonstrated more robust and dynamic economic performance,” she added.

The administration credited the better-than-expected economic growth  to sustained private sector confidence and accelerated government spending.

“There were healthy increases in the services sector, complemented by growth in exports and increases in household consumption expenditures,” Valte said at a regular Palace news briefing Thursday afternoon.

She said the first-quarter GDP figure validates the optimistic outlook of the President and his economic team.