Philippines tempers growth goals

ECONOMIC MANAGERS cut its gross domestic product (GDP) growth target for this year amid “heightened global uncertainties” arising from the Middle East conflict and US tariffs.

The Philippine economy is now expected to grow by 5.5-6.5% this year from the previous target of 6-8%, the Development Budget Coordination Committee (DBCC) said on Thursday.

It also narrowed the GDP growth target range to 6-7% for 2026 to 2028 from 6-8% previously, “reflecting a more measured and resilient outlook amid global headwinds.”