Gov’t cuts GDP growth target for 2018

Due to slower gross domestic product (GDP) growth in the first half, economic managers on Tuesday cut the target range for 2018 to 6.5-6.9 percent even as they unveiled strategies to boost economic expansion in the near term.   The Cabinet-level Development Budget Coordination Committee (DBCC) slashed this year's GDP growth goal from 7-8 percent previously, but kept the range for 2019 to 2022, Budget Secretary and DBCC chair Benjamin E. Diokno told a press conference.   While GDP growth averaged 6.3 percent in the first half---below the new target range---Socioeconomic Planning Secretary Ernesto M. Pernia said the economic team remained optimistic that the goal coul...Keep on reading: Gov’t cuts GDP growth target for 2018

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