MALACAÑANG on Thursday welcomed the 7.1-percent gross domestic product (GPD) growth registered in the third quarter, attributing it to accelerated spending on infrastructure and poverty-reduction efforts.
In a statement issued by the Presidential Communications Office, Finance Secretary Carlos Dominguez 3rd said there would be no let-up in the Duterte administration’s commitment to spend big on public works as well as on human capital and social protection, to guarantee high and inclusive growth.
On Monday, the Duterte administration approved seven infrastructure projects worth P270 billion, including the North-South Railway Project.
Presidential Communications Secretary Martin Andanar noted that the 7.1 growth GDP growth achieved in the third quarter was the fastest since the second quarter of 2013.
“This is higher compared to the country’s 6.2 percent GDP growth during the same period a year ago,” the Palace official said.
“This underscores that the Duterte administration offers more than [the]war on drugs and that we have a sound economic vision and agenda that will spur growth to benefit the lives of our countrymen, especially the poor and the marginalized,” he said.