RP economy likely to grow over 5%

RP economy likely to grow over 5%

MANILA: Improving farm output likely pushed the Philippines'
economic growth clip above five percent in the three months to
June, Economic Planning Secretary Romulo Neri said on Thursday.

Agricultural production had slipped 0.1 percent from a year
earlier in the three months to March due to adverse weather,
curbing gross domestic product (GDP) growth for the period to 4.6
percent.

GDP growth likely was "over five percent" in the current
quarter, Neri told reporters.

"In the second half (of the year), GDP growth is expected at
over 5.5 percent, making it still possible for full-year economic
growth to hit the lower-end of our target."

The government is aiming for 2005 growth of 5.3-6.3 percent
after it hit an eight-year high of 6.1 percent in 2004.-- AFP