Recto sees ‘realistic’ 6-6.5 percent growth for Philippines

MANILA, Philippines —

“I think six percent is a good number. Aspirational, I think we should hit for 6.5 percent. Realistic is six , but we will endeavor to hit 6.5. That’s how I’m looking at it,” Recto said. He added that the DBCC would also evaluate and make adjustments on the goals under the medium-term fiscal framework , which was crafted during the start of the Marcos administration.Under the MTFF, GDP growth for 2025 until 2028 should be at 6.5 to eight percent.

“By then, we can probably adjust those figures again upwards. We still have two hot wars ongoing, geopolitical tensions in this part of the world, but then there’s so much opportunities and optimism in the Philippines,” he said. The DBCC earlier said there remains to be challenges for 2024 including elevated inflation because of the onset of El Niño, external price pressures from geopolitical tensions and the imposition of export bans in other countries.

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