Philip­pine 2018 GDP growth still among world’s fastest

Watchmen Daily Journal - - BUSINESS -

The Philip­pine econ­omy likely grew 6.5 to 6.7 per­cent in 2018, main­tain­ing one of the world’s fastest growth rates, Bud­get Sec­re­tary Ben­jamin Dio­kno said yes­ter­day.

Eco­nomic growth slowed to 6.1 per­cent in the July to Septem­ber 2018 pe­riod, dragged by storm dam­age to crops. Of­fi­cial data for the suc­ceed­ing quar­ter and the full year are due out on Jan­uary 24.

“The Pres­i­dent is very much aware that it is agri­cul­ture that is drag­ging the econ­omy,” Dio­kno told ANC’s Head­start.

Pres­i­dent Ro­drigo Duterte de­scribed agri­cul­ture as the “weak­est link” in the econ­omy, Dio­kno said, re­call­ing a re­cent meet­ing with the ex­ec­u­tive and Agri­cul­ture Sec. Em­manuel Piñol.

Dio­kno said the Pres­i­dent was “putting pres­sure” on Piñol to aid the farm sec­tor. Some P5 bil­lion for seeds and farm im­ple­ments were re­cently re­leased to the De­part­ment of Agri­cul­ture, the bud­get chief said.

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