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The latest gross domestic product growth rate reflects the continued commitment of the Marcos administration to propel the country’s economic expansion this year, Department of Trade and Industry Secretary Alfredo Pascual said Friday.
The GDP registered a year-on-year growth of 5.7 percent in the first quarter, with notable contributions from the financial and insurance, wholesale and retail trade and manufacturing sectors. “These data signal the Philippine economy’s positive trajectory towards achieving a growth rate of 6.0 percent to 7.0 percent this year. The DTI is one of the major contributors to this growth, implementing key programs and actions to foster a robust business environment and fuel economic development,” the trade chief said.He said the DTI is strategically contributing to the economic expansion by focusing on selected key areas.
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