Inquirer.net
MANILA – The Philippines said Monday its economy expanded by a lower-than-expected 4.9 percent in the three months to March, due to a drop in global trade and less spending on infrastructure.
“Underspending by the government and the slowdown in global trade constricted the economy to a lower growth… of 4.9 percent in the first quarter,” the agency’s secretary general Romulo Virola said in a statement.
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MANILA – The Philippines said Monday its economy expanded by a lower-than-expected 4.9 percent in the three months to March, due to a drop in global trade and less spending on infrastructure.
“Underspending by the government and the slowdown in global trade constricted the economy to a lower growth… of 4.9 percent in the first quarter,” the agency’s secretary general Romulo Virola said in a statement.
Read here
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