Palace: Philippine GDP slowdown just 'temporary' | Inquirer News

Palace: Philippine GDP slowdown just ‘temporary’

By: - Reporter / @NCorralesINQ
/ 05:39 PM August 08, 2019

MANILA, Philippines — The slowdown in the country’s economic growth is just temporary, Malacañang said Thursday, as the Philippine Statistics Authority (PSA) has reported that the Philippine economy grew at a slower pace of 5.5% in the second quarter this year.

“Well, according to our economic managers temporary lang naman iyan eh; gaya ng mga nakaraan, ginagawan natin ng paraan iyon,” presidential spokesperson Salvador Panelo said in a Palace briefing.

Panelo refused to comment further when asked about specific steps to address the economic growth slowdown.

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“I will leave it to the Economic Managers para mas maganda ang sagot. Secretary Pernia will be issuing a statement on that,” he said, referring to Socioeconomic Planning Secretary and National Economic and Development Authority (Neda) chief Ernesto Pernia.

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READ: PH GDP growth further slows to 5.5% in Q2

The Philippine Statistics Authority (PSA) reported earlier Thursday that the gross domestic product (GDP) growth during the April to June period was 5.5%, slower than the 6.2% recorded in the same period in 2018.

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The government targets a 6-7% GDP growth this year. /kga

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TAGS: Business, Economy, GDP, Growth, Local news, Nation, national news, News, Philippine news updates, slow down

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