PHILIPPINE economic growth likely grew to 5.8 percent in the second quarter on the back of moderated public spending and investments, according to Japan’s Nomura Securities Ltd.
“The government’s monthly fiscal surpluses in April and May support our Q2 (second quarter) GDP (gross domestic product) growth forecast of 5.8 percent, which is only a marginal improvement from the growth of 5.6 percent in Q1 (first quarter),” Nomura economist Euben Paracuelles said in a report released over the weekend.
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