MANILA - The economy can grow by 6.5 percent this year as a lack of destructive cyclones in the first nine months of the year is expected to boost agriculture, the country's economic planning secretary said Thursday.

Above average rainfall from a looming La Nina weather event, which will follow the El Nino dry spell, will also not be as severe as expected, said National Economic Development Authority Director General Ernesto Pernia.

Pernia added that growth in the second half was unlikely to fall below 5.1 percent, the minimum rate required to meet the low end of the government's 6 to 7 percent target for the year.

“I think 6.5 percent should be achievable for the full year,” Pernia said.

Growth in the first six months of the year averaged 6.9 percent, after a faster-than-expected 7-percent expansion in the second quarter.

“Rains have been good, there's been a lot of rain but not destructive, so it's going to be healthy for agriculture. Let’s hope that typhoons keep skirting the Philippines,” the cabinet official said.

None of the nine typhoons that entered the country so far this year has hit major agricultural areas. The country is hit by an average of 20 cyclones annually.

HSBC said it raised its growth forecast for the Philippines this year to 6.5 percent from 6.3 percent with the economy supported by government spending and domestic demand.

"We are confident that growth in the Philippines will continue to outpace growth in the region in coming years as the country plays infrastructure catch-up and builds a larger fixed capital base," HSBC economist Joseph Incalcaterra said.

HSBC said it retained its growth forecasts for 2017 and 2018 at 6.3 percent and 6.4 percent, respectively.