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Home  >>   Daily News  >> Philippines>>Economy>>Philippine GDP grew by at least 6.5% on fiscal, consumer spending in Q3
NEWS UPDATES Asean Affairs    October  26,  2017  










Philippine GDP grew by at least 6.5% on fiscal, consumer spending in Q3

Consumer spending and the rollout of key infrastructure projects drove the economy to grow above 6.5 percent in the third quarter, First Metro Investments Corp. FMIC) and the University of Asia and the Pacific (UA&P) said in a report.

"We see another 6.5 percent or better expansion in GDP (gross domestic product) for Q3, as consumer spending should kick up," FMIC and UA&P said in the October 2017 issue of "The Market Call." It cited gains in remittances.

According to the central bank, personal remittances rose by 8.7 percent to $2.559 billion in July.

FMIC and UA&P also noted higher government spending in August.

The Department of Budget and Management said fiscal spending increased by 13.9 percent to P201.6 billion.

"National government disbursements continued its above-10 percent growth pace, marking its fourth consecutive month of double-digit growth amidst the resumption of key infrastructure projects," the report said.

"Exports renewed its above-10 percent gains in Q3 and should continue to boost growth for the quarter," it added.

According to data from the Philippine Statistics Authority (PSA), exports totaled $5.51 billion in August.

The Philippine economy grew by 6.5 percent in the second quarter, bringing the first-half GDP growth to 6.5 percent.

The PSA is scheduled to release the third quarter GDP numbers on November 16.

The government targets a 6.5-percent to 7.5-percent growth this year, and 7-percent to 8-percent in 2018 to 2022.

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ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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