MANILA, June 26 (Xinhua) -- The Philippine government has revised its 2025 economic growth target downward to a range of 5.5-6.5 percent, from the earlier 6.0-8.0 percent, taking into account heightened global uncertainties, the country's Development Budget Coordination Committee (DBCC) said Thursday.
Growth projections for 2026 to 2028 were also narrowed to 6.0-7.0 percent, down from 6.0-8.0 percent, the DBCC added in a statement.
"The revisions take into account heightened global uncertainties, such as the unforeseen escalation of tensions in the Middle East and the imposition of U.S. tariffs," the statement read, adding that the government is focusing on maintaining price stability while expanding trade partnerships and enhancing the productivity of domestic industries.
The government's economic team also adjusted this year's inflation forecast to 2.0-3.0 percent, from the previous 2.0-4.0 percent range, while maintaining the 2.0-4.0 percent target for 2026 to 2028.
The Philippine economy expanded by 5.4 percent year-on-year in the first quarter of 2025, driven by accelerated government spending and faster growth in household spending, the statement added. ■