Philippines confident in attaining lower end of GDP target for 2023

The Philippines is confident it can still hit the lower end or stay in the vicinity of its 6%-7% gross domestic product growth target for the year, Economic Planning Secretary Arsenio M. Balisacan told a press conference.

Reforms in the government will allow the Southeast Asian nation to sustain its growth in the medium and long term, Mr. Balisacan said.

The Philippine economy grew 5.5% in January to September.

The government is monitoring risks like the El Niño dry weather pattern and geopolitical tensions that could raise uncertainty and disrupt supply chains, Mr. Balisacan said.—Reuters