President Ferdinand "Bongbong" Marcos Jr. has expressed confidence that hitting an 8% gross domestic product growth rate in the Philippines is doable under his term."Sure, why not? You know, we always plan for the idea, we don't plan for a mediocre result, we plan for a very good result and as I said, we just have to adjust along the way as we continue to transform the economy.
Marcos also admitted that the country is still battling inflation, noting that it is the Philippines' biggest problem.Earlier, National Economic and Development Authority Secretary Arsenio Balisacan said the Philippines needs to grow beyond its current growth trajectory of 6% to be able to catch up with its "more prosperous neighbors."The Philippine economy is valued at over P24 trillion or over $400 billion in 2023. The economy as measured by gross domestic product grew by 5.
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