Tuesday, 5 May 2009

Philippine GDP to grow 4% in 2009


The Philippine economy is expected to expand by 4 percent this year, at the higher end of the government's target range of 3.1-4.1 percent, a senior government official said on Tuesday.

"We are targeting 4 percent," Dennis Arroyo, head of policy planning at the economic planning agency, told reporters.

He said annual growth would be slowest in the first quarter and would gather speed from the second quarter onwards as spending ahead of the May 2010 elections kicks in.

Last year's growth is estimated at 4.6 percent.

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