Monday, November 26, 2007
RP economic growth likely 6.1 to 7.1% in 3rd quarter: official (5:07 p.m.)
MANILA -- The Philippine economy likely grew between 6.1 percent and 7.1 percent in the third quarter from a year ago, aided by a vibrant services sector and a recovery in agriculture, the economic secretary said Monday.
Augusto Santos said the government's full-year growth target of 6.1 percent to 6.7 percent was "definitely achievable."
The economy expanded at its fastest pace in nearly two decades in the second quarter, rising 7.5 percent and pushing first-half growth to 7.3 percent from the same period last year.
Santos said he expects the services sectors to have grown between 6.5 percent and 7.3 percent from a year ago in the third quarter, agriculture between 5 percent and 5.8 percent, and industry between 6.1 percent and 7.3 percent.
He said exports probably disappointed because of the appreciation of the peso, which has hit a seven-year high against the US dollar.
The economy expanded 5.4 percent in 2006. (AP) |
