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Review of growth targets underway

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The Marcos administration’s economic team will review its growth prospects for the country amid still elevated inflation that prompted the central bank to make an off-cycle rate hike.

Cabinet-level Development Budget Coordination Committee member and Budget Secretary Amenah Pangandaman said the economic team would meet on Nov. 3.

At that time, the DBCC reduced its inflation assumption to five to six percent from the previous target range of five to seven percent. However, four months have passed and inflation has started to accelerate again, rising for the second straight month to 6.1 percent in September.

 

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