Election spending will sustain growth in 2012

After recording a strong 6.4% growth in the 1st quarter of this year, the Philippine economy will sustain its gains because of election-related expenses at the end of 2012. Officials of the National Economic and Development Authority said they expect early election spending to boost full-year growth. “Elections in this country have a way of increasing GDP (gross domestic product) growth rates during the election year, as well as the previous semester before that, Neda assistant director-general Ruperto Majuca said in a press briefing on Thursday, May 31. Traditionally, advertising, transportation and giveaways constitute expense accounts for candidates.

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