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The Department of Finance is confident on achieving the lower range of the 2024 economic growth target despite the modest first-quarter expansion.
“But are we sticking to the target? I still think we can hit 6 percent before the end of the year because inflation is slowing down also. And we expect rising prices to start slowing down, too,” he said.Recto earlier said the Philippine economy remained a frontrunner in the ASEAN region with its first-quarter performance, with the industry sector being the brightest spot driven by strong domestic manufacturing.
“What is to be celebrated here is the encouraging growth seen in the manufacturing sector as it is the most crucial sector for long-term employment, productivity, value-added generation and innovation. This sets the course for the Philippines to become a premier manufacturing hub in Asia,” Recto said.
“So far, the way I see it, unless something changes between now and then, I think more or less…maybe not this Monetary Board meeting,” Recto said.
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