BILYONARYO.COM
May 1, 2024
The Philippine economy is estimated to have grown by 5.8 to 6.3 percent in the first quarter of the year, according to Department of Finance (DOF) Secretary Ralph Recto.
While the government’s official full-year target remains six to seven percent growth, Recto emphasized a realistic first quarter figure of at least 5.8 percent based on the DOF’s analysis.
“Anything higher than 5.5 percent is a win because last year we grew by 5.5 percent, So if we grow by 5.8 percent, that’s good enough. That should be one of the highest in the region, if not one of the highest in the world,” Recto told reporters.
“There’s also a chance that it could hit six percent. If we’re lucky, (even) 6.3 percent. That depend on inflation,” he added.
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