CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

Philippine GDP growth this year may be higher than 6%

06-23-2010 12:00 BJT

MANILA, June 22 (Xinhua) -- Philippine economic growth for this year may even surpass the revised 5 to 6 percent GDP growth target on back of the global recovery, Philippine Acting Socioeconomic Planning Secretary Augusto Santos said Tuesday.

"There's a possibility that the 5 to 6 (percent) can be higher because of manufacturing, because of services because of global economic recovery," Santos told reporters.

He said that the revised GDP growth target for 2010 is " conservative" and would be revisited after the second quarter economic data are released in late July or mid-August, for another possible upward revision.

He added that the second quarter GDP growth "may be as good or even better" than the 7.3 percent GDP growth posted in the first quarter.

He believes that the impressive growth rate posted in the first quarter will be sustained for the rest of the year.

Santos said the slight increase of Philippine exports to Europe and steady remittances of Filipinos workers from Europe prove that the European debt crisis is not hurting the Philippine economy.

Editor:Du Xiaodan |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program