Philippines revises 2025 growth target down to 5.5% to 6.5%
MANILA, June 26 (Reuters) - The Philippines revised its growth target for this year to 5.5% to 6.5%, down from 6.0% to 8.0%, the budget secretary said on Thursday.
The growth targets for 2026 to 2028 were narrowed to 6.0% to 7.0% from a previous range of 6.0% to 8.0%, Amenah Pangandaman told a press conference.
The government's economic committee trimmed its assumption for inflation this year to 2% to 3%, from 2% to 4%, and maintained its outlook for 2026 to 2028 at 2% to 4%, Pangandaman said.
Gross domestic product grew by an annual 5.4% in the first quarter of 2025, in line with the previous quarter's 5.3% growth.
Citing the need to support growth amid global uncertainties, the Bangko Sentral ng Pilipinas cut rates for a second meeting in a row on June 19 and left the door open for at least one more reduction this year.
Inflation has averaged 1.9% in the first five months of the year, below the central bank's 2% to 4% target range.
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