“The growth came mainly from consumer and public spending, buttressed by increased investments in fixed capital,” Jose Ramon Albert, secretary general of the National Statistical Coordination Board, said in a Reuters article.
Looking ahead, the economy may face some growth risks in the second half of the year.
“Government spending may slow post-election, with some concerns that the ongoing case on the abuse of a discretionary fund may curb state expenditure,” Bernard Aw, analyst at Forecast PTE Ltd, said in the Reuters article.
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Max Chen contributed to this article.