Philippines confident in attaining lower end of GDP target for 2023

December 13, 2023 - 12:10 PM
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Skyline of Metro Manila (The STAR / Miguel de Guzman, file)

 The Philippines is confident it can still hit the lower end or stay in the vicinity of its 6%-7% gross domestic product growth target for the year, Economic Planning Secretary Arsenio Balisacan told a press conference.

Reforms in the government will allow the Southeast Asian nation to sustain its growth in the medium and long term, Balisacan said.

The Philippine economy grew 5.5% in January to September.

The government is monitoring risks like the El Niño dry weather pattern and geopolitical tensions that could raise uncertainty and disrupt supply chains, Balisacan said.

– Reporting by Mikhail Flores; Writing by Neil Jerome Morales; Editing by Kanupriya Kapoor