There is a chance that the Philippines’ economic managers would lower their economic growth target for the year during the next DBCC meeting on October 19, Finance Secretary Benjamin Diokno said.
There is a chance that the Philippines’ economic managers would lower their economic growth target for the year during the next Development Budget Coordination Committee meeting on October 19, Finance Secretary Benjamin Diokno said.
The Asian Development Bank , for one, recently downgraded its Philippine growth forecast for 2023 to 5.7 percent from 6 percent. Watch more News on iWantTFC “We will review where we are on the revenue prospects kasi maraming measures na baka hindi makalusot this year. But there are some measures na makakalusot din,” he said, noting how the proposed Fiscal Regime for the Mining Industry, the Single-Use Plastic Bags Tax Act, and the VAT on Digital Services have all been approved by the lower house.Despite the potential revenue losses, Diokno said there will still be ways to fund the government’s proposed P5.
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