NEDA says 6% Q1 growth possible

A six percent economic growth in the first quarter is possible given developments in the labor market and lower inflation, according to the National Economic and Development Authority (NEDA).

- LOUELLA DESIDERIO

"It is possible. It can be lower, but not too much," NEDA Secretary Arsenio Balisacan told The STAR when asked if it is possible that first quarter economic growth reached six percent.

"I don't expect to go spectacularly high or even high. But I think that if we can get close to within the six to seven percent [target] for the year, I would be happy with that," he said in a recent interview.

Balisacan said additional data including exports, however, would still be needed to know how the economy performed in the first quarter.

Data released by the Philippine Statistics Authority (PSA) last week showed the country's exports of goods amounted to $11.84 billion in the January to February period, 12.3 percent higher than the $10.55 billion in the same period in 2023.