Biz chamber urges PHL to aspire for 8% annual growth rate

THE Philippines needs to aim for at least 8% annual growth rate to ensure that any economic expansion is sufficiently inclusive, the Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII said.

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FFCCCII President Victor R. Lim said that while the recent revision of growth projections shows the administration’s “acknowledgement of real headwinds,” the government should choose ambition over accommodation.

“We noted the cited causes —the corrosive aftermath of the flood control corruption scandal and its dampening effect on confidence as well as global trade uncertainties,” he said ina statement on Thursday.

“We must categorically reject the notion that these new targets — 5% to 6% in 2026, scaling to 6% to 7% by 2028 — should represent the limit of our national economic ambition,” he added.

He said the Philippines should seek to achieve a sustained annual growth of 8% and beyond, after neighbor Vietnam posted 8% growth in 2025.

“This is the minimum viable ambition for a nation of our potential. The goal of 8% remains the ideal benchmark of transformative progress, because a steadfast and collective drive toward 8% is the critical, immediate step that will change our momentum and define this decade,” he added.