Thursday, 4 June 2009

Philippine GDP puzzles ... again

Economic cluster tackling growth issues
Jun Vallecera & Mia Gonzalez
Business Mirror

ECONOMIC managers are to tackle later this week the issues arising from the apparent disconnect—between the low first-quarter growth and the robust lending levels and government disbursements—that has puzzled monetary officials and put those in the Executive on the defensive.

The government acknowledged on Tuesday it failed to spend as much as P10 billion in the first four months as part of pump-priming activities seen to help push the economy forward at a healthy pace this year.

But the admission still does not explain the disparity between all that growth-inducing money going into the system, as economic growth expanded by only 0.4 percent in the first three months rather than by the consensus growth of around 2.5 percent.


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