MANILA: The Philippine economy grew 6.4 percent in the first quarter of this year, Socioeconomic Planning Secretary Ernesto Pernia said on Thursday.
"The Philippines remains one of the strongest performers among the major emerging economies in Asia," Pernia said, adding the Philippines overtook Vietnam and Indonesia which grew by 5.1 percent, and Thailand by only 3.3 percent, reports Xinhua.
He said the Philippines is second only to China. India has yet to issue its growth figure for the period. Pernia said the Philippine first quarter growth "bodes well for the economy as it is broadly in line with our target of 6.5-7.5 percent.