TOP economic managers in the country say the slower growth of the Philippines is well-within their expectations, and will still be on its way to reaching the government’s target for the year.
Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla told reporters on Tuesday that the GDP growth rate—announced at 7.4 percent for the second quarter of the year—is within their forecast range. The governor, however, did not comment on how the new data will affect their upcoming monetary policy decisions.
Department of Finance (DOF) Secretary Benjamin Diokno, meanwhile, said he is “reassuring the public” that “the economy is on a steady path to recovery and expansion” amid the slowdown of the economy from the revised 8.2 percent growth in the first quarter of the year.
“Our growth figure of 7.4 percent of GDP sits comfortably at the higher end of our target band for the year. This is an impressive…
