PHILIPPINE economic growth could fall within the government's full-year target in the second quarter (Q2), an HSBC economist said.
PHILIPPINE economic growth could fall within the government's full-year target in the second quarter , an HSBC economist said.'For the second quarter, it's going to grow above 6.0 percent mainly because of base effects,' HSBC Global Research economist Aris Dacanay told reporters on Wednesday.April-June growth in 2023 was just 4.3 percent, slowing from 6.4 percent three months earlier, as government spending contracted. Full-year growth subsequently fell below the 6.0- to 7.
Dacanay said that HSBC still expects the government to miss this year's growth target with the economy expanding by just 5.8 percent.Growth was forecast to accelerate to 6.1 percent next year, also below the 2025 goal of 6.5 to 7.5 percent.Dacanay, however, said the outlook could change given the government's decision to cut rice import tariffs in a bid to control inflation.'This does not include the tariff ... It could be higher,' he said.He said that approximately 1.
Economic Growth Expected To Exceed 6%
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