| 2nd Qtr GDP seen to grow 5.9-6.9% | |||||
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The second quarter GDP growth was "fostered by the recovery of the global economy which fueled strong growth in international trade," Socioeconomic Planning Secretary Cayetano Paderanga said in a press briefing. He said that improved consumer and investor confidence, the peaceful national elections in May and election-related spending also contributed to the GDP growth. But the El Nino- induced dry spell, which reduced farm production, limited the GDP expansion. Read more... (www.philstar.com) |
The economy is expected to have grown by 5.9 to 6.9 percent in the second quarter on back of the global recovery and election related spending, a senior official said today.