CREDIT rater S&P Global Ratings maintained its 6.4-percent growth forecast for the Philippines, noting that the second-quarter expansion is in line with its expectation.
“GDP [gross domestic product]growth remained strong at 6.5 percent in Q2, in line with our estimate of potential growth,” it said in a report released on Tuesday.
S&P’s 2017 forecast fell short of the government’s 6.5-percent to 7.5-percent target, representing a slowdown from last year’s actual GDP growth of 6.9 percent.
The Philippine economy grew by 6.5 percent in the second quarter of the year, down from 7.1 percent a year earlier but firmer than the 6.4 percent recorded in the first three months of 2017. MAYVELIN U. CARABALLO