Philippine economy grows 5.9 pct in 2019

Source: Xinhua | 2020-01-23

The Philippines's gross domestic product (GDP) posted a year-on-year growth of 6.4 percent in the fourth quarter of 2019, resulting in the 5.9 percent full-year growth for 2019.

Philippines Statistics Authority (PSA) head Claire Dennis Mapa made the announcement at a news conference on Thursday.

The National Economic and Development Authority said the 5.9 percent growth in 2019 is "the slowest in eight years and slightly below the low-end 6.0 to 6.5 percent revised target of the government for the year."