{"id":659,"date":"2023-10-25T21:06:20","date_gmt":"2023-10-25T21:06:20","guid":{"rendered":"https:\/\/arangkadaphilippines.com\/forum2023\/?p=659"},"modified":"2023-11-03T06:49:38","modified_gmt":"2023-11-03T06:49:38","slug":"nedas-balisacan-q3-gdp-should-be-better-than-q2","status":"publish","type":"post","link":"https:\/\/arangkadaphilippines.com\/forum2023\/2023\/10\/25\/nedas-balisacan-q3-gdp-should-be-better-than-q2\/","title":{"rendered":"NEDA’s Balisacan: Q3 GDP ‘should be’ better than Q2"},"content":{"rendered":"
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By TED CORDERO, GMA Integrated News<\/div>\n
Published <\/strong>October 25, 2023 9:06pm<\/div>\n<\/div>\n<\/div>\n

 <\/p>\n

National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Wednesday hinted that the country\u2019s economic performance for the July to September period will be better than the preceding quarter.<\/p>\n

At the sidelines of 12th Arangkada Philippines Forum in Pasay City, Balisacan said that as far as available data being assessed are concerned the third quarter gross domestic product (GDP) growth \u201cshould be better.\u201d<\/p>\n

\u201cThat’s I think so far that I saw. I can, you know, qualitatively assess the data that we are seeing. Yes, it should be better,\u201d the NEDA chief said.<\/p>\n

The economy as measured by GDP or the total value of goods and services produced in a specific period\u00a0slowed to 4.3% in the second quarter<\/a>, bringing the first half 2023 GDP growth rate to 5.3%, below the government\u2019s target range of 6% to 7%.<\/p>\n

The second quarter GDP growth was also the economy\u2019s slowest footing in nine quarters since the country entered the positive territory in the middle of 2021 following a pandemic-induced recession\u2014amid elevated inflation and high interest rates that tempered consumption during the period as well as government underspending during the period.<\/p>\n

Balisacan expressed optimism that the July to September GDP growth will be \u201cbetter than the second semester because we have tried to address some of the concerns, particularly the underspending now.\u201d<\/p>\n

\u201cOf course the inflation that we saw in September was a bit on the high side but we hope that inflation in the coming months is much more improved,\u201d he said.<\/p>\n

Inflation, which measures the rate of increase in prices of consumer goods and services,\u00a0grew faster at 6.1% in September<\/a>\u00a0from 5.3% in August, as food and transport costs weighed on prices amid domestic and external supply challenges.<\/p>\n

\u201cSo I can\u2019t tell you now what the growth [rate will be]\u2026. we\u2019re still assembling the numbers, but that will be announced in the first week of November,\u201d Balisacan said.<\/p>\n

Government underspending, apart from high inflation, was among the factors behind the slower second quarter growth.<\/p>\n

The administration devised a catch-up spending plan through accelerating the execution of government programs and projects, including the delivery of public services, under the 2023 national budget to support GDP growth.\u00a0\u2014 BM, GMA Integrated News<\/strong><\/p>\n

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Source:<\/strong> https:\/\/www.gmanetwork.com\/news\/money\/economy\/886314\/neda-s-balisacan-q3-gdp-should-be-better-than-q2\/story\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By TED CORDERO, GMA Integrated News Published October 25, 2023 9:06pm   National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Wednesday hinted that the country\u2019s economic performance for the July to September period will be better than the preceding quarter. At the sidelines of 12th Arangkada Philippines Forum in Pasay City, Balisacan said […]<\/p>\n","protected":false},"author":1,"featured_media":660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[4],"tags":[17,12,14,15,16,13],"class_list":["post-659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-12th-arangkada-philippines-forum","tag-arsenio-balisacan","tag-gdp","tag-inflation","tag-neda","tag-philippine-economy"],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/arangkadaphilippines.com\/forum2023\/wp-json\/wp\/v2\/posts\/659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arangkadaphilippines.com\/forum2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arangkadaphilippines.com\/forum2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arangkadaphilippines.com\/forum2023\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/arangkadaphilippines.com\/forum2023\/wp-json\/wp\/v2\/comments?post=659"}],"version-history":[{"count":1,"href":"https:\/\/arangkadaphilippines.com\/forum2023\/wp-json\/wp\/v2\/posts\/659\/revisions"}],"predecessor-version":[{"id":661,"href":"https:\/\/arangkadaphilippines.com\/forum2023\/wp-json\/wp\/v2\/posts\/659\/revisions\/661"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arangkadaphilippines.com\/forum2023\/wp-json\/wp\/v2\/media\/660"}],"wp:attachment":[{"href":"https:\/\/arangkadaphilippines.com\/forum2023\/wp-json\/wp\/v2\/media?parent=659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arangkadaphilippines.com\/forum2023\/wp-json\/wp\/v2\/categories?post=659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arangkadaphilippines.com\/forum2023\/wp-json\/wp\/v2\/tags?post=659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}