The economic managers plan to reduce the country’s gross domestic product growth targets until 2028, according to Finance Secretary Ralph Recto.
“So, I think we should be responsible for that. Nevertheless, we pushed the BIR , the Customs and the Treasury to collect more. We will adjust the GDP down, but we will ask the BIR and the BOC to do more,” he said, Data from the Philippine Statistics Authority showed that the Philippine economy expanded 5.6 percent in 2023, below the government’s target range of 6 percent to 8 percent and the actual growth of 7.6 percent registered in 2022.Recto said a 6-percent GDP growth is a “good number” for 2024. “Aspirational, I think we should hit 6.5 percent,” he said.
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