Global jitters cloud PH growth prospects

It may be too early to let go of the six to eight percent growth target in the medium-term, but adjusting the upper end in the short-term may be possible amid uncertainties in global trade, according to the Department of Economy, Planning and Development (DEPDev).

- By LOUELLA DESIDERIO

"Will we still achieve the six to eight percent growth target for the medium-term? My sense is that it's too early to give up (the) six to eight percent for the medium-term, meaning 2025 to 2028," DEPDev Secretary Arsenio Balisacan told reporters on the sidelines of the Innotech Seminar.

Despite challenges from the domestic and foreign fronts, Balisacan said the country needs to be ambitious and should work harder to achieve a more rapid economic growth.

He said other countries, like Vietnam, remain optimistic and are still aiming to achieve high growth despite the headwinds.

In the short-term, Balisacan said it is possible to adjust the upper end of the growth target amid uncertainties clouding the growth outlook.

Earlier, he said an eight percent growth may no longer be a realistic assumption as uncertainties stemming from the United States tariffs on trade partners are unlikely to disappear soon.