Philippine central bank expects good 1st-quarter GDP growth

05/12/2013 | Business World (Philippines)

Disappointing exports numbers are likely to be offset by other factors, allowing the Philippines to report solid annual growth for the first quarter, the central bank said. In particular, "government spending has a lot of potential to contribute to growth. There was underspending last year, and the economy still grew by 6.3% in the first quarter," said bank Deputy Director Dennis D. Lapid.

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