Philippines growth likely to be below government target this year, senior official says

MANILA – The Philippines is very unlikely to meet even the lower end of its target range for growth this year, Economic Planning Secretary Arsenio Balisacan said on Monday.

The government has a growth target of 5.5% to 6.5% this year. Gross domestic product grew 4.0% in the third quarter from a year earlier, significantly weaker than the 5.5% expansion recorded in the previous quarter.

Next week the government is due to review its medium-term fiscal and growth targets, including a growth target of 6.0% to 7.0% for 2026-2028. — Reuters