Philippine economic managers are considering revising the 2025 economic growth targets set earlier due to the country's lackluster performance in 2024. Although the economy grew by 5.6% in 2024, it fell short of the 6-6.5% target for the second consecutive year. The Development Budget Coordination Committee (DBCC) may retain the lower-end target of 6% but adjust the upper-end. The DBCC will consider various economic indicators, including GDP, inflation, employment, and key policy rates, in its upcoming meeting.
AFTER the Philippine economy’s lackluster performance last year, economic managers are now considering revising the targets they set for 2025 during its first meeting in March.
The DBCC will likely retain the lower-end growth target of 6 percent but could tighten the upper-end of the band, Budget Undersecretary and Principal Economist Joselito R. Basilio told reporters during the same event. With United States President Donald Trump stepping into office, Pangandaman said there are no external risks to the Philippines yet. “As of now, it’s just the pronouncements and most of it is just the policy review of the existing orders and previous policy. So we wait until we get their final agenda.”
ECONOMY PHILIPPINES ECONOMIC GROWTH GDP TARGETS
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