My Google Page Rank

NEDA sees over 4.6% GDP growth in Q1

PDFPrintE-mail

The Philippine economy is projected to grow more than 4.6 percent in the first quarter of the year mostly because of the increased government spending, the National Economic and Development Authority (NEDA) said Wednesday.

Socioeconomic Planning Secretary Cayetano Paderanga Jr., told reporters that the first quarter gross domestic product (GDP) is likely to be higher than the 4.6 percent growth in the same period last year.

In the fourth quarter of last year, the economy expanded by only 3.7 percent.

"The government expenditure program is really working well but of course there are some downside risks and we're watching what's happening in Europe and then of course the oil issue," Paderanga said.

Ruperto Majuca, NEDA's assistant director general, said there was a good chance that the first quarter GDP growth would be higher than last year.

"I see that the possible drivers will be the public construction, the ramping up of public expenditures then also in general there's a high business confidence. This is reflected, among others, in the stock market performance so this confidence will tend to stimulate business activity, investment and then it would have a positive impact overall," Majuca said.

The National Statistical Coordination Board (NSCB) earlier reported that the composite leading economic indicator (LEI) recorded an upward trend to 0.238 in the first quarter from a revised 0.168 in the fourth quarter of last year.

"The latest LEI computations show the index in firmer positive territory auguring well for the domestic economy to start off the year of the dragon," the NSCB said.

For the full year, Paderanga said that the government is sticking to its economic target of 7 percent to 8 percent.

"It will be fairly difficult [to achieve the target] considering the slowdown in global economic environment, including the Eurozone debt and the economic woes because it could spill over to other countries such as China. And then indirectly impact us also. So, we will also have to watch closely the recovery of the US, if it will firm up or it will remain fragile. We will have to watch closely China, of course Europe," Majuca said.

By PNA/PIA9-ZBST




Related news items:
Newer news items:
Older news items:

Add comment


Security code
Refresh

D’ JAGUAR COACH … CLARO

25 Nov 2017 Hits:10 Be the first to comment!

Este si Claro Borgonia Nuesca , 5’8” el altor , residente de #60 Sunrise Village , Guiwan, Ciudad de Zamboanga . Su mayores si Claudio N. Nuesca Jr. y Rosalina Natividad Borgonia Nuesca. Su hermano y hermana si Mae Rose, Jojo, Diding, Edelyn y Edward . Ya gradua Elementaria na Guiwan Elementary School, secondaria na Zamboanga City High School Main na Petit Barracks y colegio na WMSU . Este su istoria… “Cuando bata ta juga yo basketball junto con mi maga amigo , si Jr Turano, Carlo Montaño, Percival Galvez, Michael Galvez y Christopher Dela Cruz . Ya iscuji yo el basketball kay mi maga primo amo el ya influencia conmigo y ya mira yo interesable el juego . Ya juga yo [...] Read more

Prev Next Page:

One gun-for-hire dead in shootout with cops

24 Nov 2017 Hits:105 Be the first to comment!

An alleged member of a gun-for-hire group was killed in a shootout with personnel of the Regional Public Safety Battalion 9 (RPSB9) in Barangay Balok, Sindangan Municipality, Zamboanga del Norte [...] Read more


FERNDALE SCHOOL 2017 SBP PASSERELLE MINDANAO CHAMPION

24 Nov 2017 Hits:52 Be the first to comment!

Este el istoria del Ferndale International School locao na Veterans Avenue, Ciudad de Zamboanga. El presidente del escuela si Dr. Anicia A. Alvarez y el official ta ayuda mira canamon [...] Read more


BAP TOURNAMENT AND OFFICIATING LEAGUE

23 Nov 2017 Hits:68 Be the first to comment!

Schedule games for Nov. 26,2017 (Sun) Golden Boys Gym 8:30 am  Bonchon -vs-  J Vince 10:00 am  Jocsie     -vs-   RRJ RESULT of the games played last Nov.19,2017(Sun) WEST SCC GYM.. SAN JOSE [...] Read more


Four houses destroyed by fire

23 Nov 2017 Hits:73 Be the first to comment!

Four houses made-of-light materials were totally razed to the ground in Royal Lane Drive, Barangay Tugbungan. Zamboanga City Central Fire Station (ZCCFS), District Fire Marshall Clint Cha identified the owners of [...] Read more


WMSU, WMBA host National Training on Bio-Threat Reduction for LGUs

22 Nov 2017 Hits:78 Be the first to comment!

The Western Mindanao State University (WMSU), through the Western Mindanao Biosafety and Biosecurity Association (WMBA), and in partnership with the United States Department of Defense- Defense Threat Reduction Agency, successfully [...] Read more


Fire Chief prepares for fire

22 Nov 2017 Hits:81 Be the first to comment!

In preparation for the coming Yuletide Season, District Fire Marshal, Chief Insp. Clint Cha has called on all fire sub-stations to prepare and ready their various equipment and firetrucks. Cha said [...] Read more


DOH cites importance EO 28

22 Nov 2017 Hits:67 Be the first to comment!

The Department of Health, Regional Office 9 yesterday explained the objective and importance of Executive Order Number 28 of President Rodrigo Duterte on June 27, 2017, providing for the regulation [...] Read more


Wesmincom Chief says ASG strenght significantly dropped

22 Nov 2017 Hits:74 Be the first to comment!

Lt. Gen. Carlito Galvez, Western Mindanao Command Chief, yesterday said that the strength of the Abu Sayyaf Group in Sulu, Basilan and Tawi Tawi has significantly decreased. Galvez said this is [...] Read more


D' CUSTODIAN BALLER … NELLIE

22 Nov 2017 Hits:64 Be the first to comment!

Este si Marnelli Candido Berba, su palayao “Nellie”, 33 años de edad, 5’0” el altor, residente de Talon Talon, Ciudad de Zamboanga. Su mayores si Ernesto N. Berba y Maridol [...] Read more


380 aspiring fire officers take qualifying exams

21 Nov 2017 Hits:80 Be the first to comment!

More or less 380 applicants took the qualifying exam conducted by the Bureau of Fire Protection (BFP-IX) at the Zamboanga State College of Marine Sciences and Technology, yesterday. District Fire Marshal, [...] Read more


Cops, probers undergo training on drug cases

21 Nov 2017 Hits:72 Be the first to comment!

Members of the local police, investigators and other law enforcement agencies undergo a two-day enhancement training on handling drug cases in a bid to ensure successful implementation of the war [...] Read more


Submarine cable landing stations to speed-up internet connectivity – DOST

21 Nov 2017 Hits:117 Be the first to comment!

The slow internet connection in the country may soon be a thing of the past. This was according to the Department of Science and Technology (DOST) as it welcomed the [...] Read more


LADY PANTHER WRESTLER… ERICA

20 Nov 2017 Hits:80 Be the first to comment!

Este si Erica Bataclan Martinez, su palayao “Ecang”, 17 años , 5’3” el altor,    Su mayores si Oscar B. Martinez y Lariza A. Bataclan Martinez, su hermano y hermana [...] Read more


FOOTBALL CHIEF… TENG

19 Nov 2017 Hits:77 Be the first to comment!

Este si VICENTE EDUARDO S. TORRES, ta llama conele “Teng/Pardz/Boboy”, 62 años de edad , casao y su esposa si Esther Facultad Torres Y diila anak si Pompeyo F. Torres [...] Read more


AboitizPower sustains strong foothold in hydropower business

18 Nov 2017 Hits:138 Be the first to comment!

On the back of a strong demand for renewable energy (RE), AboitizPower continues to ramp up its portfolio of generation facilities across the Philippines. AboitizPower's subsidiary, SN AboitizPower, has completed the [...] Read more


ZAMBOANGA FOOTBALL - ROLL D BALL

18 Nov 2017 Hits:86 Be the first to comment!

Del Nov. 12, 2017 Domingo el Segundo semana de Season long Zamboanga Football league. El primer juego tan feature cun Resto del Mundo contra  Zamboanga United . Ta pricura man [...] Read more


Police shift war on drugs to anti-gun-for-hire drive

17 Nov 2017 Hits:99 Be the first to comment!

Police regional director and vice chair of the Regional Peace and Order Council (RPOC) for Western Mindanao Chief Supt. Billy Beltran announced recently that all police operatives previously assigned in [...] Read more


Military launch rescue ops for latest victims of ASG

17 Nov 2017 Hits:138 Be the first to comment!

Government troops are now conducting operations to rescue the six people, including two children, who have been abducted by about 15 suspected Abu Sayyaf bandits in Patikul, Sulu, according to [...] Read more