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Socioeconomic Planning Chief Karl Kendrick Chua (PNA file photo) MANILA - Economic managers on Tuesday slashed the government's 2022 growth target from 7-9 percent to 7-8 percent amidst the strong output in the first quarter of the year after taking into account the impact of external developments. In a virtual briefing after the 181st meeting of the inter-agency Development Budget and Coordination Committee (DBCC), National Economic and Development Authority (NEDA) Secretary Karl Kendrick Chua said the 8.3 percent output, as measured by gross domestic product (GDP), in the first quarter of this year is sustainable. "The Philippine economy is on a sustainable path towards rapid and inclusive growth. We have revised the GDP target for this year from 7-9 percent to 7-8 percent taking into consideration external risks that have materialized in the last six months," he said. These risks include the Russia-Ukraine conflict, the 75 basis points increase in the Federal Reserve&#

Karl kendrick chuaCoordination committeeNational economicDepartment of budgetDevelopment authorityFederal reserveDevelopment budgetSecretary karl kendrick chuaAlert levelExecutive orderTina rose marrieSocioeconomic planning chief karl kendrick chua pna file photo manila economic managers on tuesday slashed the government 39s 2022 growth target from 7 9 percent to 8 amidst strong output in first quarter of year after taking into account impact external developments ina virtual briefing 181st meeting inter agency development budget and coordination committee dbccAtional economic and development authority neda secretary karl kendrick chua said the 8 3 percent outputS measured by gross domestic product gdpN the first quarter of this year is sustainable quot philippine economy ona path towards rapid and inclusive growth we have revised gdp target for from 7 9 percent to 8 taking into consideration external risks that materialized in last six monthsUot he said these risks include the russia ukraine conflict