Teves says Q1 GDP likely up 2%-3%

Posted at 05/05/2009 12:18 PM | Updated as of 05/05/2009 12:18 PM

NUSA DUA, Indonesia - Philippine first-quarter gross domestic product likely grew 2-3 percent from a  year earlier, Finance Secretary Margarito Teves said on Tuesday.

"That is the information we have been getting from the office of (Socio-economic Planning Secretary) Ralph Recto," Teves said in an interview on the sidelines of the Asian Development Bank's annual meeting in Indonesia.

First-quarter growth data will be announced on May 28.

The Philippines has said growth will slow to 3.1-4.1 percent this year from 4.6 percent in 2008 because of the financial crisis.


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