Economy may grow close to 7 percent: BDO Capital


Posted at Nov 17 2017 09:32 AM

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MANILA - The economy can grow close to 7 percent after the surprisingly strong expansion in the third quarter, a fund manager said Friday.

Infrastructure aid from China and Japan will help drive economic growth, BDO Capital President Ed Francisco told ANC's Market Edge with Cathy Yang.

Gross domestic product grew 6.9 percent in the July to September period, smashing forecasts and picking up from 6.7 percent in the second quarter.

"People were very surprised, positively," Francisco said, adding the stock market decline on Thursday after the GDP data was announced was due to profit taking.