PH GDP grows 6.7% in 2017

By , on January 22, 2018


FILE: NEDA Director-General Ernesto Pernia (Photo: National Economic and Development Authority/Facebook)
FILE: NEDA Director-General Ernesto Pernia (Photo: National Economic and Development Authority/Facebook)

MANILA — The Philippine economy expanded 6.6 percent in the fourth quarter of 2017, bringing full-year growth to 6.7 percent, the government reported Tuesday.

National Economic and Development Authority (NEDA) Director General and Socioeconomic Planning Secretary Ernesto Pernia said the Philippines remains one of the fastest growing economies in the region after China’s 6.9 percent and Viet Nam’s 6.8 percent.

Pernia said among the major economic sectors, industry recorded the fastest growth of 7.3 percent in the fourth quarter, followed by services which grew 6.8 percent.

Agriculture grew by 2.4 percent, rebounding from a 1.3-percent decline in the same quarter of the previous year. (PNA)