The Marcos administration\u2019s economic managers are set to meet next month to review the country\u2019s growth and fiscal targets, Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan said Wednesday.<\/p>\n
\u201cOur practice is to conduct this review as soon as we have the economic performance report, which will be released next week,\u201d Balisacan said on the sidelines of the 2026 National Innovation Day in Manila.<\/p>\n
The Philippine Statistics Authority (PSA) is set to release first-quarter economic growth data on May 7. Balisacan said the Development Budget Coordination Committee (DBCC) will likely convene about a week after the data release.<\/p>\n
The DBCC previously set a growth target of 5 percent to 6 percent for this year and 5.5 percent to 6.5 percent for 2027.<\/p>\n
However, Balisacan acknowledged that the recent oil price shock stemming from the conflict in the Middle East has weighed on the country\u2019s growth prospects, noting that the Philippines imports most of its fuel.<\/p>\n
\u201cGiven this unforeseen development, as we are still recovering from last year\u2019s infrastructure issues, we have been hit again by an even more serious challenge. It is therefore understandable that we cannot expect stronger performance than in previous quarters given this shock,\u201d he said.<\/p>\n
\u201cEveryone is aware of the situation in the Middle East. No country has been spared, although some are worse off than others depending on their exposure to the conflict,\u201d he added.<\/p>\n
Balisacan said the government is working to ensure that the economy does not slow significantly due to the oil price shock, while also protecting the most vulnerable sectors through financial support.<\/p>\n
\u201cBut the most important thing is that we recover as soon as this shock passes,\u201d he said. (PNA)<\/p>\n","protected":false},"excerpt":{"rendered":"
The review aims to ensure that economic goals remain aligned with current conditions.<\/p>\n","protected":false},"author":73,"featured_media":264259,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19565],"tags":[],"class_list":["post-264258","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business-today"],"zyndk8_nxtgen_metadata":{"nxtgen_comments":[{"8514":"planning \ud83e\udde0\r","8515":"good move ng government \ud83d\udc4d\r","8516":"depende sa results \ud83d\ude42\r"}]},"yoast_head":"\n