BusinessWorld E-paper
July 11, 2022
THE NEW growth targets set by President Ferdinand R. Marcos,
Jr.’s economic team are achievable if the government will continue to
reopen the economy, address its debt burden, and pursue aggressive infrastructure spending.
The Development Budget Coordination Committee (DBCC) on Friday approved the medium-term macroeconomic assumptions and fiscal program for 2022 to 2028. The DBCC set the gross domestic product (GDP) growth target at 6.5-7.5% this year, lower
than the 7-8% given by the previous administration. However, it expects the economy to grow by 6.5-8% annually from 2023 to 2028, higher than the previous administration’s assumption of 6-7% from 2023 to 2025.
