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Philippines gives up 8% GDP growth goal

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Christian Fernsby ▼ | December 11, 2019
The Philippines will no longer target economic growth as high as 8 per cent by the time President Rodrigo Duterte steps down in 2022, according to his economic managers.
Rodrigo Duterte
Business in Asia   The annual expansion goal is now as high as 7.5 per cent
The annual expansion goal is now as high as 7.5 per cent for 2020-2022, according to the Development Budget Coordination Committee, which is led by Budget Secretary Wendel Avisado.

Topics: Philippines GDP

“Continuing unresolved trade tensions” were a key consideration for economic managers who reviewed targets and estimates, Avisado said at a briefing Wednesday.

The same day, the Asian Development Bank cut its growth outlook for developing Asia this year and next, as trade tensions continue to weigh on the region and domestic investment weakens.