Recto: 2009 growth of 4% still possible

Reuters

Posted at Feb 23 2009 02:53 PM | Updated as of Feb 23 2009 11:29 PM

The economy is expected to expand about 4 percent this year based on current indicators, the socio-economic planning chief said on Monday.

"There is a bias that we will still grow by 4 percent," Ralph Recto told reporters, adding agriculture and services would support growth this year.

The government would likely maintain the low end and downgrade the high end of its current growth forecast of 3.7 to 4.7 percent this year, Recto also said.