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Economics

Elections to Fuel Philippines' 2019 Growth, Economic Chief Says

  • Mid-term vote to add at least a point to GDP growth: Pernia
  • Chief economist expects robust consumption as inflation cools
Retail Economy in Manila as Surging Inflation in Philippines Seals Case for Rate Hike
Photographer: Hannah Reyes Morales/Bloomberg
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Philippine economic growth which weakened to a three-year low in 2018 will rebound this year, boosted by spending for the May mid-term elections and helped by moderating prices, the nation’s chief economist said.

“With the declining inflation, domestic demand will strengthen,” Economic Planning Secretary Ernesto Pernia said in an interview in his office on Friday. Hitting the low-end of the 7 percent to 8 percent growth target this year is “good enough” and can be done, he said.