Balisacan: Slow state spending is a cause of concern


Posted at Aug 28 2014 11:25 AM | Updated as of Aug 28 2014 07:25 PM

MANILA - The slowdown in state spending in the second quarter is a "cause for concern" but the government can catch up on its expenditure plans, with overall growth still likely to hit the target for the year, Arsenio Balisacan, socioeconomic planning secretary, said on Thursday.

Government expenditure in the second quarter was flat from a year earlier, compared with 12 percent growth in the same period of 2013, official data showed.

The Philippine economy grew by 6.4 percent in the second quarter.

Manila is targeting growth of 6.5-7.5 percent this year after growth of 7.2 percent in 2013.