Recto sees at least 5.8% GDP growth in Q1

The Philippine economy may expanded by at least 5.8 percent to as much as 6.3 percent in the first quarter as inflation remained a concern for the government.

- LOUISE MAUREEN SIMEON

Finance Secretary Ralph Recto said gross domestic product (GDP) likely expanded by 5.8 to 6.3 percent from January to March.

If realized, this would be slower than 6.4 percent growth recorded in the first quarter.

"Anything higher than 5.5 percent is a win so if we grew by 5.8 percent, that's good enough, that should be one of the highest in the region," Recto told reporters late Monday afternoon.

"I'm being realistic, I think it would be nearer at 5.8 percent but it can breach six percent. If we get lucky, we can even hit 6.3 percent," he said.