Philippines sees Q2 GDP growth higher than Q1
Published: 11 Aug 2009 20:14:11 PSTMANILA, Aug 12 - Annual economic growth in the Philippines in the second quarter would have been better than the 0.4 percent expansion in the first three months, outgoing socioeconomic planning secretary Ralph Recto said on Wednesday.
"We are confident second quarter growth is better than the first," Recto told reporters. He also said the prospects of a recession had receded.
"A recession is behind us," he said.
The annual growth in the first quarter was the weakest since 1998. Official second quarter growth data is due on Aug. 27.
Recto has resigned from the post of planning secretary to contest next year's elections. His resignation takes effect from Aug. 16.
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