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'Too early to tinker with growth targets'
The Freeman
|April 30, 2025
It is quite early to tinker with economic growth targets for the year even with the potential impact of the reciprocal tariffs imposed by the United States, the head of the Cabinet-level Development Budget Coordination Committee (DBCC) said yesterday.
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DBCC chair and Budget Secretary Amenah Pangandaman said there would be no revisions on the gross domestic product (GDP) outlook for 2025, at least for now.
This developed even after US President Donald Trump imposed reciprocal tariffs earlier this month. BMI estimates showed that the 17-percent reciprocal tariff slapped on the Philippines could reduce GDP by 1.1 percentage points.
This year, the DBCC is expecting that the economy could grow by at least six percent to as much as eight percent, higher than the 5.7-percent expansion in 2024.
This story is from the April 30, 2025 edition of The Freeman.
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