Philippine Statistics Authority data showed that for the 10th consecutive quarter, gross domestic product (GDP) growth hit 6.5 percent and above. Euben Paracuelles, economist at Nomura Securities, said it is maintaining its GDP growth forecast of 6.9 percent for this year and 6.7 percent for next year. The Duterte administration is spending P8.4 trillion for various infrastructure projects under the Build Build Build program until 2022. ING Bank Manila senior economist Joey Cuyegkeng said it is also retaining its 6.8 percent GDP growth forecast for the year and 6.9 percent for 2019. Market interest rates have reflected higher inflation and higher policy rates.

Source: Philippine Star May 10, 2018 15:45 UTC