The Philippine government recently revealed economic growth in the first quarter of 2018 amounted to 6.8 percent, which is lower than their seven to eight percent targets.

Presidential Spokesperson Harry Roque, Jr. pointed out the figure is slightly higher than the growth figure last year, which was 6.5 percent in the first quarter of 2017.

“We are optimistic that our economic momentum would continue to be sustained with higher tax revenue collection and bigger public spending in infrastructure,” he added.

In a report by the Nikkei Asian Review, Socioeconomic Planning Secretary Ernesto Pernia said inflation impacted the numbers negatively.

“Inflation is the spoiler,” he said.

Last March, while speaking in Bacolod City, Senator Juan Edgardo ‘Sonny’ Angara said the current inflation rate is four percent, explaining the figure is higher than the two to three percent experienced during the prior administration./WDJ