Palace elated over PH’s 6.7% economic growth in 2017

FILE: Malacanang on Tuesday expressed elation over the 6.7 percent growth that the Philippine economy registered in 2017. (PIXABAY PHOTO)

MANILA — Malacanang on Tuesday expressed elation over the 6.7 percent growth that the Philippine economy registered in 2017.

“It is something that we are very proud of. We’re elated,” Presidential Spokesperson Harry Roque said during regular Palace press briefing.

According to the Philippine Statistics Authority (PSA), the gross domestic product (GDP) grew by 6.6 percent in the fourth quarter, pushing the country’s economy to post 6.7 percent growth in 2017.

The economic performance is lower compared to 6.9 percent growth in 2016 but is still within the government’s target between 6.5 to 7.5 percent for 2017.

“Well it is still one of the fastest growing economies in the whole of Asia,” Roque said.

He said there is nothing wrong with the slight decrease which he explained “is negligible.”

Roque is certain that the economic growth has contributed to the sense of optimism of the Filipinos , 96 percent of them viewed the 2018 with optimism.

“It is also responsible for the all-time high approval rating of the President,” Roque said.

The government of President Rodrigo Duterte is eyeing higher economic growth target for 2018 as it accelerated the implementation of big ticket infrastructure projects under Build, Build, Build program.