Palace: Economic growth ‘lower than we hoped’

Palace: Economic growth ‘lower than we hoped’ Malacañang says the 2.3 percent economic growth in the second quarter of the year was lower than they hoped. The 2.3 percent is lower than the 5.5 percent recorded in the same period last year. It is also lower than the 2.8 percent growth recorded in the first quarter. Palace Press Officer Claire Castro says this is a temporary setback driven by extraordinary external and domestic factors. She cited the impact of the Middle East conflict as a primary factor. She reassured the public that the slowdown will not define the country's broader trajectory. Read more: https://tmt.news/2400753