PHL economy one of the fastest in Asia despite slowing under Duterte admin

The Philippine economy remains one of the fastest growing in Asia, even if growth has slowed in the last few quarters after picking up pace in 2010.

Socioeconomic Planning Secretary Ernesto M. Pernia said the slowdown was due to the absence of election-related spending, which supported economic growth last year.

"Growth last year was high due to election spending, impact of which has already dissipated," he said.
 
The gross domestic product (GDP) grew by 6.4 percent in the first quarter of 2017, better than Vietnam, Indonesia and Thailand even if it was the slowest for the Philippine in five quarters.

Despite the slowdown, Malacañang is confident that the economy is on the right track.
 
The second State of the Nation Address (SONA) of President Rodrigo Duterte will revolve on a theme of "A Comfortable Life for All" and is in English.

Presidential Communication Operations Office Secretary Martin M. Andanar said Duterte wants his "written speech" to run no more than 50 minutes.

Spokesperson Ernesto C. Abella said, however, that off-the-cuff remarks and applause could stretch the length to as much as 90 minutes. — VDS, GMA News