Finance Secretary Ralph Recto said Philippine economic growth is expected to accelerate in the second half of the year.

“I think the second quarter, for sure, will be better than the first,” Recto told reporters in an informal press chat on Wednesday.

The Philippine economy grew by 5.4 percent in the first quarter of the year.

Recto said growth in the second half of the year would continue to be driven by government consumption and household consumption.

“Our biggest driver is household consumption,” he said.

Economic growth will likely hit the lower end of the government’s target this year, Recto said.

“Realistically, probably 5.7 (percent) to 5.8 percent for the year. But there’s still a possibility. It depends because there’s a lot of uncertainty. Uncertainty with trade policy,” he said.

Earlier this year, economic managers revised the economic growth target for 2025 amid mounting global uncertainties.

The economic growth assumption for the year was revised downward to 5.5 percent to 6.5 percent from the previous 6 percent to 8 percent. (PNA)