On the DBCC's Revised Economic and Fiscal Targets

The Development Budget Coordination Committee (DBCC) issued revised macroeconomic and fiscal targets for 2025-2028 last week, June 26.

- Bienvenido S. Oplas Jr.

The DBCC is chaired by Budget Secretary Amenah Pangandaman, with Finance Secretary Ralph Recto, Economic Planning Secretary Arsenio Balisacan, Executive Secretary Lucas Bersamin and Bangko Sentral Governor Eli Remolona as members.

I compare here the DBCC targets in June 26, 2025 vs. their targets in Dec. 2, 2024, respectively.

In GDP growth, 5.5 to 6.5 percent in 2025 then six to seven percent in 2026-2028, downwards from six to eight percent from 2025-2028 in previous targets.

In inflation, two to three percent in 2025 and two to four percent in 2026-2028, vs two to four percent in 2025-2028.

For the fiscal program: Revenues at P4.52 trillion in 2025 to P5.91 trillion in 2028, lower than previous targets of P4.64 trillion in 2025 to P6.25 trillion in 2018.

Expenditures at P6.08 trillion in 2025 to P7.47 trillion in 2028, lower than previous targets of P6.18 trillion in 2025 to P7.62 trillion in 2028.

Budget deficit at P1.56 trillion in 2025 or 5.5 percent of GDP to P1.55 trillion in 2028 or 4.3 percent of GDP. These are higher than previous targets of P1.54 trillion in 2025 or 5.7 percent of GDP to P1.37 trillion in 2028 or 3.7 percent of GDP.