The Philippines grew better than expected in 2013 despite the disasters that struck the country, according to the socioeconomic planning chief.
In a press conference, National Economic and Development Authority (NEDA) Director General Arsenio Balisacan announced that the country’s gross domestic product (GDP) grew 6.5% in the fourth quarter of last year, bringing full-year growth to 7.2%.
Balisacan stressed that it is a remarkable turnout that the economy grew higher than the target of 6% to 7% despite the challenges the country faced.
He added the government will continue to be on the lookout for opportunities and remain watchful of threats to sustain the growth momentum, citing that they are optimistic the Philippine economy will remain strong in 2014. (NEDA)