Abad sees higher GDP growth in Q2

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Gross domestic product (GDP) growth in the Philippines in the second quarter of the year will be higher than the 6.9 percent expansion recorded in the first quarter, outgoing Budget and Management Secretary Florencio Abad said.

Speaking on the sidelines of the 2016 plenary conference of the Public Expenditure Management Network in Asia (PENMA) at the Philippine International Convention Center on Wednesday, Abad said the forecast was based on improved budget execution and procurement.

Many of the problems previously encountered by the government have been addressed and the efficiency of the procurement system has dramatically improved, he said.

MAYVELIN U. CARABALLO


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