Economic development of 6% “reachable” this year

This image is about gross national product

Despite underspending in the first half of the year, the country’s gross national product (GDP) could still grow 6% or greater.

In an interview with ANC, Secretary for Socioeconomic Planning Ernesto Pernia said household consumption and the downward inflation trend could boost economic growth to 6 percent, the low-end target of 6 to 7 percent for the government.

In the second quarter, the gross national product rose by 5.5%, from 6.2% in 2018 and 5.6% in the past quarter.

Inflation continued to decelerate from 2.4% in July to 1.7% in August. It was the first time the inflation had been below the 2 to 4 percent target of the government in nearly 3 years.

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