Phl to post over 6% growth this year

The Philippine economy is expected to post over six percent growth this year with lower inflation and interest rates to support consumption and investments, according to an official of BDO Unibank Inc.

- By LOUElla DESIDERIO

"Investments and consumption are picking up. And we believe that corporates that have held back on capex the past four years, they will resume capex spending and that should push up Philippine GDP (gross domestic product) to over six percent in 2025," BDO senior vice president Dante Tinga Jr. said during an economic briefing organized by European chambers.

While inflation has been the major risk to the Philippine economy and the global economy for the past three years, Tinga said the country's average inflation of 3.2 percent last year was within the central bank's target range of two to four percent.