7%-7.2% GDP seen in Q2, says Finance

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THE Department of Finance (DOF) expects a faster Philippine economy in the second quarter of 2017, saying gross domestic product (GDP) growth will likely range from 7 percent to 7.2 percent.

“And we think the numbers are better. It is possible that it has even breached 7 percent to 7.2 percent,” Finance Undersecretary Gil Beltran told reporters in an interview on Tuesday.

The Finance department’s forecast would mean that the April-June result would be higher than the 6.4 percent in the previous quarter. This also compares with the 7 percent recorded in the second quarter of 2016.

It is also within the 6.5-percent to 7.5-percent full-year target of the government. GDP growth in 2016 was 6.9 percent, near the top end of the 6-percent to 7-percent goal.

Socioeconomic Planning Secretary Ernesto Pernia last week expressed confidence that the economy picked up in the second quarter, with 7 percent “still possible.”

Official second quarter GDP data is scheduled for release by the Philippine Statistics Authority this Thursday, August 17. MAYVELIN  U. CARABALLO

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