MANILA, Philippines (Eagle News) — The Duterte Administration Economic Managers cut the Philippines’ growth target for 2016 and 2017 to “conservative” levels after noting economic risks.
In a briefing Tuesday, Budget and Management Secretary Benjamin Diokno said this year’s target was cut to six to seven percent from 6.8-7.8 percent and the 2017 target to 6.5-7.5 percent from 6.6 to 7.6 percent.
The 2018 target was maintained at seven to eight percent, which was adopted as the growth target until 2020.
The previous 2019 target is a range between 6.9-7.9 percent.
Diokno said growth target for this year, in particular, was cut to “conservative” levels “because half of the year is over.”
The government is yet to report the domestic economy’s second quarter performance.