2013 economic growth target stays for now – Palace

The government is not yet revising its 2013 growth target of 6% to 7% despite the stellar first quarter growth of 7.8% and an expected better performance in the second quarter. Cabinet Secretary Jose Rene Almendras said the government is waiting for inputs from other economic and social clusters before making adjustments in the country’s growth outlook. He added that the President is waiting for each cluster to finish their roadmaps for job creation — the priority of the administration. Several groups, including multilateral agencies, however, are keeping their Philippine outlook for 2013 at around 6%. Analysts are expecting a stellar or higher growth rate in the second quarter due to increased election spending.

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