NEDA says inflation, business sentiment to support robust growth

The Philippines will likely be able to maintain a high economic growth because of improved business sentiment and benign inflation, the National Economic and Development Authority said Monday.

 

Such indicators are in line with the perception that the pace of economic expansion in 2012 and in the first quarter of 2013 is sustainable, NEDA deputy director general Emmanuel Esguerra told reporters in an interview.

 

An economic environment of low inflation and better business sentiment raises the probability of strong growth, the official noted. “The combination of these factors could help keep a high economic growth rate,” Esguerra said at the sidelines of the Rural Bankers Association of the Philippines (RBAP) convention.

 

In gross domestic product (GDP) terms, the economy grew by 7.8 percent in the first quarter of the year, the fastest in Asia which surpassed China’s 7.7 percent. 

 

The economy grew at a revised 6.8 percent last year, the fastest in Southeast Asia. — VS, GMA News