The Philippines continues to be one of the fastest growing economies in the region despite the initial slowdown in the first two quarters of the year due to the delayed passage of the 2019 budget.

Socioeconomic Planning Secretary Ernesto Pernia“The economy has continued to grow this year despite its initial slowdown in the first two quarters and the obstacles that were thrown its way — from the El Niño phenomenon that resulted in water shortages, the delay in the passage of the 2019 budget, to the US-China trade war, among other things,” said Socioeconomic Planning Secretary Ernesto Pernia.