Philippines poised to sustain growth after 'solid' Q2: Nomura


Posted at Aug 17 2017 03:56 PM

MANILA - Economic growth in the second quarter was "solid," signalling sustained momentum until the end of the year, Nomura senior analyst for Southeast Asia Euben Paracuelles said Thursday.

Gross domestic product grew 6.5 percent in the April to June period, beating estimates and picking up from the previous 3 months as government spending on infrastructure offset a slowdown in private investments.

"The economy gained a lot of momentum and we expect that to continue for the rest of the year," Paracuelles told ANC's Market Edge with Cathy Yang.

Ateneo de Manila economics professor Alvin Ang stressed the importance of moving infrastructure projects.

"We have reached a point of a maximum capacity right now. We have reached our infrastructure limit. We really have to push and come up with finished projects by the end of this year," Ang said.