NEDA: Too early to revise 2022 growth target amid expanded Alert Level 3

It is still too early to revise the 2022 growth target despite the implementation of Alert Level 3 in over 80 areas, including Metro Manila, until end-January.

NEDA Undersecretary Rosamarie Edillon said during a PCOO press briefing that there are still many developments that could happen and it is only January 18.

The Development Budget Coordination Committee has set a growth target of 7 to 9 percent for this year.

Alert Level 3 costs the economy around PHP3 billion every week in Metro Manila and its adjacent provinces, but Edillon noted that the impact on the economy from Alert Level 3 is milder compared to previous lockdowns.

She added that improving vaccination rates provide additional protection against COVID-19.