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Philippines: Q4’s GDP growth up 6.3 percent

The Philippines’ GDP growth rate for the fourth quarter of 2018 was edged up 6.3 percent from the same period last year, higher than the previous prediction of 6.1 percent, the Philippine Statistics Authority said on April 4.
Philippines: Q4’s GDP growth up 6.3 percent ảnh 1Trucks transporting containers with imported items are prepared to leave a port in Manila (Photo: Reuters)

Hanoi (VNA) – The Philippines’ GDP growth rate for the fourth quarterof 2018 was edged up 6.3 percent from the same period last year, higher thanthe previous prediction of 6.1 percent, the Philippine Statistics Authoritysaid on April 4.

However, whole-year 2018 growth was unchanged at 6.2 percent.

The first quarter of 2019’s GDP data will be released on May 9.

In March, the country cut its 2019 growth target to 6-7 percent, from 7-8 percent,due to a delay in the approval of this year’s national budget and impacts from theUS-China trade war.

The 3.757 trillionpeso (72.10 billion USD) budget bill is now awaiting President RodrigoDuterte's ratification.

Accordingto the World Bank (WB)’s report released on April 1, the Philippine economywill grow 6.4 percent in 2019 and 6.5 percent during 2020-2021, which are lowerthan the previous forecast in January of 6.5 percent for 2019 and 6.6 percentfor the following two years.-VNA
VNA
#Philippines’ GDP growth rate#edged up 6.3 percent#Philippine Statistics Authority#whole-year 2018 growth#President Rodrigo Duterte#World Bank (WB)’s report#Vietnam News Agency#Vietnamplus
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