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Philippines is broadly in line with 2017 growth target: minister
May 18, 2017 / 2:47 AM / 4 months ago

Philippines is broadly in line with 2017 growth target: minister

Economic Planning Secretary Ernesto Pernia listens during an interview with Reuters in Manila, Philippines December 5, 2016. REUTERS/Czar Dancel

MANILA (Reuters) - The Philippine economy is “broadly in line” to grow within the government’s target of 6.5-7.5 percent for the year despite a slower-than-expected expansion in the first quarter, its economic planning minister said on Thursday.

“Our Q1 performance bodes well for the economy because it is broadly in line with the 6.5-7.5 pct target for this year,” Ernesto Pernia told a news conference.

The Southeast Asian economy, one of the world’s fastest growing, expanded 6.4 percent in the first quarter from a year earlier, the slowest pace in 1-1/2 years and below market expectations.

Reporting by Neil Jerome Morales; Writing by Manolo Serapio Jr.; Editing by Jacqueline Wong

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