‘Multi-decade’ 6% GDP growth seen

The Philippines may sustain its current pace of growth in gross domestic product (GDP) at more than 6 percent for several decades, and could even step it up to 8 percent this year if oil prices stay below $60 a barrel, the head of the Department of Trade and Industry (DTI) said.

“GDP growth for this year is projected at above 7 percent. But if oil prices remain below $60 a barrel, we have a fair shot at exceeding 8 percent throughout the period,” Trade Secretary Gregory Domingo said in a speech at the Philippine Retailers Association (PRA) Awards Night on Wednesday.