Philippine economy may pick up in second half

Below target: People handle a fishing boat on a beach at San Agustin village in Iba town. Inflation in the Philippines for the rest of the year would likely come in below the central bank’s 2%-4% target, partly due to base effects and lower oil and rice prices. — Bloomberg

MANILA: The Philippine economy is likely to recover in the second half of the year, allowing the central bank to differentiate its policy from peers that are also cutting interest rates, a deputy governor said.

While most other economies are slowing, growth in the Philippines is set to pick up as government spending ramps up after a budget standoff was resolved in April, Francis Dakila said in an interview in Manila, his first with foreign media since taking office in July.