Economist: PH Q3 growth may slow
MANILA, Philippines - An economist said the Philippines' third quarter prospects may not be as good.
Casting uncertainty over growth prospects are delays in public private partnership projects.
For the second quarter of the year, construction grew only 16%, slowing from first quarter's 30%.
Government is trying to woo more investors, after a failed bidding for the LRT 1 extension project and delays in awarding the Mactan Airport contract.
"There might be a slowdown. We are looking at historical figures. There is usually a slowdown in the second half of election years, I guess, as election-related spending tapers off," BPI economist Nicholas Mapa said.
"One of the things that drove our 7.5% growth in the second quarter was the outlays of the government. They were front loaded in the first quarter and second quarter, ahead of the elections. They spent the bulk of their budget in the first half, so the smaller budget that is allocated for the second half, we'll see a slowdown in government spending," he added. - ANC