The Development Budget Coordination Committee (DBCC) of the Philippine Government recently revised its Target for the Growth Rate of the Gross Domestic Product (GDP) of the Philippines for 2024 from the previous 6 to 7 percent to down to 6 to 6.5 percent.
The DBCC said that this is due to more uncertain Economic Environment in the Philippines and abroad. The same Organization also revised the Philippines' GDP Growth Rate for 2025 from 6.5 to 7.5 percent to 6 to 8 percent.
Additional Note from me: The DBCC is composed of six Departments within the Philippine Government which, among other Things, also reviews and approves the Macroeconomic Targets of the Philippines like the GDP Growth Rate.
Here is the Link to the Article at the “Xinhua News Agency” Website: http://www.chinaview.cn/asiapacific/20241202/84fb67598a2f4b93a370cce4d7455ba2/c.html
SOURCE: Philippine Economic Team lowers GDP Target Range for 2024 {Archived Link}