Marcos orders review of PH growth targets amid economic slowdown

MANILA — The Marcos administration will undertake a fresh evaluation of the country's medium-term economic growth targets, signaling concerns about the nation's economic trajectory following disappointing third-quarter results.

President Marcos has ordered the reassessment as part of efforts to align growth forecasts with current economic realities. The Development Budget Coordination Committee (DBCC) is scheduled to convene on December 1 to conduct the comprehensive review of growth projections spanning 2026 and 2027.

The move suggests the government may lower its economic expansion targets, a scenario that would mark another downward revision following the sluggish performance recorded in the third quarter. Officials have expressed concern about maintaining the robust growth rates previously targeted for the medium term.

The DBCC review comes as policymakers grapple with various economic headwinds affecting the Southeast Asian economy. The reassessment will likely inform budget planning and economic policies for the coming years, with implications for fiscal management and development priorities.