A 7.1-percent expansion in the the third quarter gross domestic product meant the Duterte administration was not only focused on the campaign against illegal drugs, a Palace official said on Thursday.
"This underscores that the Duterte administration offers more than war on drugs, and that we have a sound economic vision and agenda that will spur growth to benefit the lives of our countrymen, especially the poor and the marginalized," Communications Secretary Martin Andanar said in a statement.The economy grew by 7.1 percent in the third quarter of the year, the fastest among major Asian emerging markets, the National Economic and Development Authority (NEDA) said on Thursday.
Citing the statement of Finance Secretary Carlos Dominguez attributing the growth to accelerated spending on infrastructure as well as the commitment to "spend big on this growth driver as well as on human capital and social protection to guarantee high and inclusive growth."
The Duterte administration has allocated P8.2 trillion solely to fund the “golden age of infrastructure” over the next six years, Budget and Management Secretary Benjamin M. Diokno earlier said.
Andanar said the NEDA believes the strong economic growth bodes well for poverty reduction in the country.
SOURCE: GMA
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