Gov't Updates Dev't Plan to Sustain Economic Gains

The government has updated its development plan with recalibrated targets on growth and average income per person as it aims to sustain gains and achieve inclusive economic growth.

- — Louella Desiderio

In a statement, the Department of Economy, Planning and Development (DEPDev) said the Midterm Update of the Philippine Development Plan (PDP) 2023 to 2028 builds on the country's hard-earned gains and aims to enhance the economy's ability to navigate trends and emerging domestic and global challenges.

The updated PDP contains recalibrated targets to reflect changing conditions, along with strategies to guide the Marcos administration in the second half of its term.

Under the updated PDP, the government is aiming for 5.5 to 6.5 percent economic growth for this year and six to seven percent growth annually from 2026 to 2028.

The PDP initially set a 6.5 to eight percent gross domestic product (GDP) growth target until 2028.

As of the first semester, the economy grew by 5.4 percent.

As part of the updated PDP, the government is aiming for gross national income (GNI) per capita to reach $4,814 to $4,920 this year, $5,124 to $5,210 for 2026, $5,452 to $5,589 in 2027 and $5,882 to $6,081 in 2028.