THIS year's economic growth target is still within reach despite a lower-than-expected first-quarter result, a senior Finance Department official said.
THIS year's economic growth target is still within reach despite a lower-than-expected first-quarter result, a senior Finance Department official said.'ur target is 6 to 7 percent. It still looks very achievable,' Finance Undersecretary Domini Velasquez told reporters during a seminar in Baguio on Saturday.The economy expanded by 5.7 percent in the first three months of the year, the government reported earlier this month, below the market consensus of 5.9 percent.
'When we look at it, moving forward, it seems that the Philippines will be growing at this kind of pace so when we talk about the potential growth of the Philippines, it's really at this level,' Velasquez said.'If you look at the potential growth of the Philippines, even if you look at studies by the IMF , it's still around 6 percent. That's the good thing about where the country is right now.
Exec: 2024 Growth Target 'Very Achievable'
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