Economic

Investment grew by four percent in the first quarter, slower than the previous quarter's 5.5 percent expansion, but faster than the 0.8 percent growth in the first quarter last year.

- With Delon Porcalla, Jose Rodel Clapano

While the country's exports posted a faster 6.2-percent growth in the first quarter from 3.2 percent in the previous quarter, net exports contracted by a deeper 19.9 percent from the previous decline of just 1.4 percent.

"The external sector's performance reflects business strategies that were employed in anticipation of greater uncertainty in global trade," Edillon said, citing the increase in imports of transport equipment, industrial machinery and electrical machinery.

For the rest of the year, Edillon said the economy would need to grow by 6.2 percent to achieve the lower end of the government's economic growth target for 2025.

Amid uncertainties, she said the Development Budget Coordination Committee technical board will meet on May 16 to go over the first quarter performance and to revisit macroeconomic assumptions for the rest of the year.

"We remain optimistic because as the numbers have shown us, there are actually signs that the economy is still very resilient," she said, noting that domestic demand remains strong.