(MENAFN) The Filipino local statistics agency said that the country's economic growth slowed to 5.7 percent in the January-March period compared a year earlier, Xinhua reported.
According to the Philippine Statistics Authority (PSA), gross domestic product (GDP) growth in the first quarter was also lower than the 6.3 percent posted in the last quarter of 2013.
"The relatively slow (economic) growth is expected, given the magnitude of destruction in production capacity," Socioeconomic Planning Secretary said.
Among all economic sectors, agriculture bore the impact of natural disasters which struck the country last year, as agriculture, fishery and forestry sectors edged up by only 0.9 percent in the cited period.
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