By Chino Leyco
The country’s economic growth slowed last year amid weak public spending due to budget delay, missing the Duterte administration’s target for 2019, data from the Philippine Statistics Authority showed.
The local economy, as measured by the gross domestic product (GDP), increased by 5.9 percent in January to December last year, slower compared with 6.2 percent in the previous year.
Likewise, the full-year 2019 GDP was marginally below President Rodrigo R. Duterte’s downgraded target of 6.0 percent to 6.5 percent.
In the fourth-quarter, the economy grew by 6.4 percent, faster than the 6.0 percent registered in the previous quarter.###