AFP, Manila :
The Philippine economy was one of Asia’s best performers in the first quarter of 2018, data showed Thursday, but the strong growth has fuelled speculation the central bank will be forced to lift interest rates.
The 6.8 percent expansion, which tied it with China and was only eclipsed by Vietnam, was boosted by a surge in government spending under President Rodrigo Duterte.
Philippine growth, which was 6.4 percent this time last year, has now come in at 6.5 percent or better for 10 successive quarters.
“The Philippines remains one of the best performing economies in the region,” Economic Planning Secretary Ernesto Pernia told reporters.
The Philippine economy was one of Asia’s best performers in the first quarter of 2018, data showed Thursday, but the strong growth has fuelled speculation the central bank will be forced to lift interest rates.
The 6.8 percent expansion, which tied it with China and was only eclipsed by Vietnam, was boosted by a surge in government spending under President Rodrigo Duterte.
Philippine growth, which was 6.4 percent this time last year, has now come in at 6.5 percent or better for 10 successive quarters.
“The Philippines remains one of the best performing economies in the region,” Economic Planning Secretary Ernesto Pernia told reporters.
