‘Growth targets this year still manageable’

ADJUSTMENTS LIKELY FOR 2025

- By LOUISE MAUREEN SIMEON

On the sidelines of the Asia CEO Awards late Tuesday night, Recto remained optimistic that the lower end of the six to seven percent gross domestic product (GDP) target for 2024 is achievable, especially after inflation in September significantly eased to a four-year low of 1.9 percent.

Recto said the Cabinet-level Development Budget Coordination Committee (DBCC) is expected to meet in December to review its macroeconomic assumptions.

“But just to review, not just the growth targets but the entire macro fiscal framework,” Recto told reporters.

“So far, we are OK, no need to adjust for this year. (Targets) are manageable,” he said.

Earlier this week, Budget Secretary and DBCC chair Amenah Pangandaman said the economic team may consider an upward adjustment in the growth targets for this year.