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Budget and Management Secretary Amenah Pangandaman (PNA file photo) MANILA - Economic managers have lowered the government's growth target for 2022 after taking into consideration the impact of the latest external developments. In a briefing on Friday, Department of Budget and Management (DBM) Secretary Amenah Pangandaman said the latest gross domestic product assumption for the year was changed to between 6.5 percent and 7.5 percent, lower than the 7 percent to 8 percent approved by economic managers in May, "in consideration of recent external and domestic developments." However, the 2023-2025 forecasts were hiked to 6.5 percent to 8 percent from the previous 6 percent to 7 percent. The 2026-2028 growth assumption is between 6.5 percent and 8 percent. "The increase in household consumption and private investments, along with a robust manufacturing industry, high vaccination rate, improved health care capacity, and the upward trend on tourism and employment has allo ....

United States , Amenah Pangandaman , Arsenio Balisacan , Ferdinand Marcos Jr , Ernesto Pernia , Department Of Budget , Secretary Amenah Pangandaman , Budget And Management Secretary Amenah Pangandaman Pna File Photo Manila Economic Managers Have Lowered The Government 39s Growth Target For 2022 After Taking Into Consideration Impact Of Latest External Developments Ina Briefing On Friday , Epartment Of Budget And Management Dbm Secretary Amenah Pangandaman Said The Latest Gross Domestic Product Assumption For Year Was Changed To Between 6 5 Percent 7 , Ower Than The 7 Percent To 8 Approved By Economic Managers In May , Uot In Consideration Of Recent External And Domestic Developments Quot However , He 2023 2025 Forecasts Were Hiked To 6 5 Percent 8 From The Previous 7 2026 2028 Growth Assumption Is Between And Quot Increase In Household Consumption Private Investments , Long Witha Robust Manufacturing Industry , High Vaccination Rate , Mproved Health Care Capacity , Nd The Upward Trend On Tourism And Employment Has Allowed Us To Safely Re Open Economy Registera Positive Growth For First Three Months Of 2022 , Uot According Toa Statement Relatively , He Inflation Assumption For The Year Was Changed To Between 4 5 Percent And From 3 7 2023 Figures Were Also Adjusted 2 But 2024 2025 Figure Retained At Even Approved As Range Until 2028 Changes Made Rate Of Price Increases Is Seen Accelerate Further In Coming Months Due Part Volatility Global Oil Prices First Half Averaged , Igher Than The 2 Percent To 4 Target Band Of Government Monetary Authorities Projected Inflation Average At 5 This Year Peso Us Dollar Assumption For Was Kept Php51 Php55 But 2023 Figure Changed From Php50 Php53 , Hich Is Also The Assumption Until 2028 Growth For Exports Was Kept At 7 Percent This Year And 6 2025 , Hich Was Also Adopted As The Assumption Until 2028 Imports Growth For This Year Hiked To 18 Percent From 15 Previously 2023 Ofa 6 Expansion And 8 2024 2025 Kept Revenue In Terms Of Fiscal Numbers , He Revenue Assumption Of Php3 304 Trillion For This Year Was Kept , Long With The Php3 632 Trillion For 2023 And Php4 062 2024 However , He 2025 Assumption Of Php4 548 Trillion Was Hiked To 576 By 2026 , Evenues Are Seen To Hit Php5 155 Trillion While An Increase 821 And Php6 589 In The Succeeding Two Years Budget Gap For This Year Was Kept At Php1 65 2023 Assumption 453 Quot Will Be Achieved Through Improved Spending Efficiency Alignment Of Priorities That Anchored On Administration 39s Eight Point Socio Economic Agendas , Ne For The Near Term And Another Medium ,