12 months Congress’ budget impasse ‘handicaps’ 2018 growth target, says Dominguez MB |Biz
By Chino S. Leyco The four-month budget deadlock in the Congress severely held back government efforts to boost spending on infrastructure and social services at the onset of this year, handicapping economic growth from soaring, the Department of Finance (DOF) said yesterday. Finance Secretary Carlos G. Dominguez III (Bloomberg photo) Finance Secretary Carlos G. Dominguez III said the country’s economy, as measured by its gross domestic product (GDP), could have possibly grown as high as 6.6 percent to 7.2 percent instead of the lower-than-expected 5.6 percent in the first quarter. But to substantially make up for underspending in the first ... more