The delay in spending to reconstruct heavily-damaged central Visayas may have dragged down growth in the first quarter, according to Roberto Juanchito Dispo, president of First Metro Investments Corp. (FMIC).
said that the economy may have grown between 6 and 6.5 percent in the first quarter from 7.7 percent last year.
"But we see rebound in the second quarter.
Because by then spending in the rehabilitation efforts in the Central Visayas would have picked up already," Dispo
said after yesterday's annual stock holders meeting of FMIC
"Hopefully (reconstruction efforts) pick up (in the) second quarter.
That will drive the economy higher in the second quarter and the rest (of the year)," he
For full-year 2014, Dispo
said "if all pieces come into place" the economy may grow from 7.5 to 8 percent, faster than most forecasts including the government's own target of between 6.5 and 7.5 percent range.
Actual GDP growth figures will be released by the government towards the end of this month.