August 31, 2025 | 12:00am
MANILA, Philippines — Funds Secretary Amenah Pangandaman mentioned she sees no motive to revise the nation’s full-year gross home product (GDP) development goal, expressing continued confidence within the authorities’s financial outlook and the prevailing development projections for 2025.
Pangandaman, who additionally heads the Cupboard-level Improvement Funds Coordination Committee (DBCC), mentioned the financial workforce is but to review the potential hostile financial results of La Niña within the coming months.
“The technical working group will sit down; I’m not contemplating adjusting it (development goal) but. Perhaps not now, in my view,” the price range secretary mentioned when requested about her stance on adjusting the GDP development goal.
Nonetheless, Pangandaman assured the general public that the federal government was ready, noting {that a} contingency program was already in place for emergency conditions.
State climate bureau Philippine Atmospheric, Geophysical and Astronomical Providers Administration mentioned La Niña might hit the nation as early as September.
The DBCC lowered this yr’s financial development goal to a spread of 5.5 to six.5 p.c from the unique goal of six to eight p.c.
Pangandaman just lately talked about that the nation is on monitor to satisfy its full-year GDP development goal, including that third-quarter development is anticipated to achieve six p.c.
The Philippine financial system expanded by 5.5 p.c within the second quarter, barely quicker than the 5.4 p.c development recorded within the first quarter.
Pangandaman mentioned the federal government would bolster infrastructure spending to assist speed up financial development and offset the slowdown skilled within the first half.
She mentioned that the investigation into the ghost infrastructure challenge resides with the implementing companies, not the price range division.