Govt confident economy to get back on target after Q1 slowdown

The government remains confident that the Philippine economy will recover in the remaining quarters of 2014 following the slower-than-expected 5.7 percent growth it recorded in the first quarter of the year.

On the sidelines of the 1st EU-Philippines Business Dialogue held in Makati City on Wednesday, Socioeconomic Planning Secretary Arsenio Balisacan expressed his confidence that the economy can grow as much as 6.8 percent in each of the remaining three quarters of the year to achieve at least the lower end of the full-year growth target of 6.5 percent to 7.5 percent.