Philippines: economic growth surges in Duterte's start
The Philippines has seen the strongest economic growth in Southeast Asia in the first three months in office of President Rodrigo Duterte.
Hanoi (VNA) – The Philippines has seen the strongest economic growth in Southeast Asia in the first three months in office of President Rodrigo Duterte.
The economy grew 7.1 percent in the third quarter of this year from the same period last year and against the forecast of 6.8 percent, Economic Planning Undersecretary Rosemarie Edillon said on November 17.
Edillon said investment increase, particularly in construction and infrastructure, along with upbeat consumer spending drove the expansion, encouraged by low inflation and low interest rates.
According to Edillon, this is a good sign and the Philippines needs a 6.9-percent growth rate in the final three months of the year to hit the top end of its 6-7 percent target for the whole year.-VNA
The economy grew 7.1 percent in the third quarter of this year from the same period last year and against the forecast of 6.8 percent, Economic Planning Undersecretary Rosemarie Edillon said on November 17.
Edillon said investment increase, particularly in construction and infrastructure, along with upbeat consumer spending drove the expansion, encouraged by low inflation and low interest rates.
According to Edillon, this is a good sign and the Philippines needs a 6.9-percent growth rate in the final three months of the year to hit the top end of its 6-7 percent target for the whole year.-VNA
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