Wednesday 19 June
May 12, 2018 @ 15:32

Diokno says 7-8% growth for 2018 still doable

 

The first quarter print is a sign of better things to come.

Economic growth at 6.8 percent during the first three months of 2018 is expected to be a teaser for even faster expansion for the rest of the year, Budget Secretary Benjamin Diokno said.

Diokno is confident that growth will pick up further towards the full-year goal of 7-8 percent, as he bets that infrastructure spending via Build, Build, Build will continue to grow.

“The Duterte Administration?s audacious Build Build Build Program definitely contributed to higher government spending for Q1, and this is corroborated by our data on National Government Disbursements,” the Cabinet official said in a statement.

“With the Q1 numbers, I am confident that 7% to 8% growth is doable and our fiscal reforms will only aid us in our objectives.”

Stronger consumer spending and agricultural output will also assist faster growth during the coming quarters, Diokno added.

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