MANILA: The pace of Philippine economic growth may be slower in the third quarter but a senior government official said today that the rate of increase would still settle within the official target of 6-7 percent.
Economic activities in the July to September period usually slow down in the Philippines due to strong typhoons and monsoon rains which cause heavy flooding.
But Budget Secretary Florencio Abad said the National Economic and Development Authority remains optimistic that the Philippines would enjoy “good (economic) growth in the third quarter.”
“I don’t know if growth for the third quarter would be above 7 percent (but) it should be in the range of 6.5-7 percent,” Abad said when asked if gross domestic product (GDP) growth in the July to September period would exceed 7 percent. Philippine economy grew 7.5 percent in the second quarter, boosting first semester growth to 7.6 percent. The government’s official GDP growth target for 2013 is 6-7 percent.
Abad said higher remittances from overseas Filipino workers and the growth of the manufacturing sector have contributed significantly to the performance of Philippine economy in the July to September period.
The Philippine government will release the official GDP data for the third quarter on Nov 28.
Broadcaster Keithley dies
MANILA: Broadcaster June Keithley-Castro passed away at the St Luke’s Medical Center in Quezon City last night.
Castro, who was diagnosed with breast cancer in 2009, was best known as the voice on Radyo Bandido who called on Filipinos to join the first People Power revolt at EDSA in 1986.
She was also one of the hosts of the talk show “Ms Ellaneous” in the 1970s and member of the Cinema Evaluation Board.
She was the wife of the late broadcaster Angelo Castro Jr, who died of lung cancer on April 5, 2012.
They have three children –Diego, Gabriella and Angelica.
Her remains will lie in state at the Immaculate Conception Chapel at Camp Aguinaldo in Quezon City, ABS-CBN reported.
Agencies
