Planning Secretary Cayetano Paderanga yesterday said first-quarter GDP growth likely ranged from 4.8 percent to 5.8 percent, two percentage points lower than the full-year target of between 7 percent and 8 percent.
But he said the Budget Development Coordinating Committee is sticking to the 2011 growth target, with a review due after the second quarter figures are in.
The national accounts for the first quarter are scheduled for release on May 30.
Paderanga said the agriculture and services sector drove growth in the first quarter.
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