The Philippine economy grew 6.1 percent in the first quarter
First Metro Investment Corp. and the University of Asia and the Pacific said the Philippine economy is expected to post faster growth of 6.1 percent in the first quarter, supported by increased infrastructure spending.
"With high growth in infrastructure spending by the national government driven by ODA (Official Development Assistance) funds and PPP (public development assistance) funds, and GDP (gross domestic product) growth forecast at 6.1 percent in the first quarter of 2024, the economy looks set to accelerate in 2024. - private partnership) projects gain traction, "FMIC and UA&P said in a March market call report.
If the forecasts of FMIC and UA&P are realized, the country's growth in the first quarter will be faster than the 5.6 percent growth in the fourth quarter of last year.