[Singapore 1st Reuters]-Jokno, Governor of the Central Bank of the Philippines, said on the 1st that he is still confident that the economic growth rate in 2019 will reach 6%. The central bank expects the growth range to be 6-7%, but admits that it may be slightly below the target.
During the business meeting held in Singapore, Governor Reuters is likely to see a growth rate of 6-6.5% in the third quarter, and further growth will accelerate in the fourth quarter. He stated that the low growth seen for the first time in several years will be offset to some extent.
The president said, “We are confident that we can still achieve 6%, but even if it reaches 5.9% or 5.8%, it can be said that it is much larger (in the world) considering the slowdown of the global economy.” Said.
He also pointed out that although the economy was “faced with problems” in the first half of the year due to delays in approving budget proposals and changes in the corporate tax system, the outlook improved.
With regard to whether additional interest rate cuts will be made during the year, he refrained from remarking on whether or not it would be implemented, depending on the trend of the inflation rate that is currently “in control”.
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