Economic managers will meet next month to review economic growth and other targets, Budget Secretary Amenah Pangandaman said on Tuesday.
Interviewed on the sidelines of the Philippine Islamic Finance Roadshow held at The Peninsula in Makati City, Pangandaman said the Development Budget Coordination Committee (DBCC), which sets economic growth and fiscal assumptions, will meet first week of December to review targets.
“The TWG (technical working group) is working on it now, ” she said.
Pangandaman, however, said that economic managers are still optimistic that the 6 percent lower end of the government’s economic growth target will be met this year.
“As of now, we’re still confident that we’ll be able to hit our targets. So, we will see. As of now, we’re trying to still keep up the budget. We’ve been releasing the budget,” she said.
Pangandaman said government agencies are using their budget, noting that all programs, infrastructures, and social projects are being implemented.
“So, I know that will contribute a lot also to our growth,” she said.
Pangandaman said the review would also consider the impact of the incoming administration of US President-elect Donald Trump and the depreciation of the peso.
“Actually, I’m not sure if they can already take into consideration the new administration of President Trump. I think it’s also nice to look at it. So ayun, ’yun ang mga tinitignan ng technical working group. (That’s what the technical working group will look into), ” she said.
Pangandaman, meanwhile, said economic managers are set to conduct a series of roadshows in the US and other countries next year to further attract investors in the Philippines.
She said economic managers would promote the newly enacted Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act to potential investors.
“We’re just finishing the IRR (implementing rules and regulations), the guidelines of the CREATE MORE because they’re waiting for that, ” Pangandaman said.
“So maybe (there will be a roadshow in the) US because there is a new administration and then bagong (new) policy in terms of their investment decisions.” (PNA)
