Philippine economic growth will return to 5.5% as early as next quarter as government spending bounces back to levels seen before a corruption scandal stalled project rollouts, the nation’s new finance chief said.
A state spending pause should be expected given the scale of corruption uncovered in flood control programs, Finance Secretary Frederick Go said Thursday, in his first interview since his appointment last week by President Ferdinand Marcos Jr. He said the halt was a necessary sacrifice to plug leaks in the billions of dollars the government invests in infrastructure.
Philippine Finance Chief Vows GDP, Spending Bounce After Scandal
