DBCC won’t revise target ‘for now,’ says Balisacan

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ByTHE Development Budget Coordination Committee is not planning to revise next year’s growth target “for now,” National Economic and Development“Until we see the numbers for this year, we won’t revise the numbers for next year,” he told reporters on the sidelines of the Philippine Economic BrieMr.

Last week, the Monetary Board stood pat for the fifth straight meeting, keeping its key policy rate at a 17-year high of 6.5%. However, the BSP signaled a possible monetary easing by August.“If people expect that the interest rate will be lower in the coming months, then that makes people… prepare for that investment so that they will be ready to go to their banks.”ing, Finance Secretary Ralph G.

The increasing number of Filipinos engaged in formal and stable jobs “reinforces the Philippines’ path towards becoming an upper middle-income country next year,” he added. “By 2033, our economy will nearly triple in size, placing us in the league of economic giants like China, Japan, India and South Korea, and we are expected to continue outpacing the growth of Asia’s economic powerhouses in the years to come,” he said.

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