Balisacan says growth targets may stay despite global uncertainty

National Economic and Development Authority Secretary Arsenio M. Balisacan said it may still be too early to revise the Philippine's growth targets despite global economic uncertainty.

Balisacan noted that while there are many uncertainties, especially globally, the committee will remain watchful and flexible.

The Development Budget Coordination Committee (DBCC) previously widened the GDP growth target to 6-8% for 2025 through 2028 in December due to evolving domestic and global uncertainties.

Balisacan acknowledged that while the fourth quarter of 2024 saw a weaker-than-expected 5.2% expansion, bringing full-year GDP growth to 5.6%, inflation has eased to 2.1% in February.

He added that despite concerns about potential deterioration in the global environment and new US tariffs affecting exports, the Philippines needs to diversify its markets and enter more free trade agreements.