Development Budget Coordination Committee announced in a media briefing.
“It is the global slowdown that is affecting the adjustment,” Finance Secretary Benjamin Diokno said.falling below 2% next year was increasing due to the effects of the war in Ukraine and simultaneous slowdowns in Europe, China and the United States.For 2022, officials said the economy was on track to meet the growth goal of 6.5%-7.5%, faster than the 5.6% expansion in 2021, after the government removed nearly all COVID-19 restrictions and allowed more business activities to resume.
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