Economy to grow by 5% in Q4 – PIDS

The Philippine economy is forecasted to grow at a faster pace of five percent in the fourth quarter compared to the previous quarter, but full-year growth is expected to fall short of the government's target, according to the state think tank.

- By LOUELLA DESIDERIO

In a discussion paper titled Macroeconomic Prospects of the Philippines in 2025 to 2026: Restoring Confidence amid Glocal Transitions, Philippine Institute for Development Studies (PIDS) senior research fellow John Paolo Rivera and research specialists Mark Gerald Ruiz and Ramona Maria Miral said they expect the economy to grow by five percent in the fourth quarter.

The forecast is higher than the four percent growth posted in the third quarter, the slowest pace in four years.

Earlier, Department of Economy, Planning and Development Secretary Arsenio Balisacan attributed the third quarter performance to the contraction in public construction amid revelations of corruption issues in flood control projects.