For the third time, the Philippines may once again fail to meet its economic growth target for 2025.
This comes amid corruption issues that may have affected both consumer and investor confidence.
According to Department of Economy, Planning, and Development (DepDev) Secretary Arsenio Balisacan, it is “very unlikely” for the country to reach the 5.5% to 6.5% growth target set by the Development Budget Coordination Committee (DBCC).
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Balisacan explained that the country would need around 7% growth in the fourth quarter to achieve the 5.5% full-year growth projection.
Given the current situation and available data, he said such growth now appears impossible.
