(Photo courtesy of DBM)
MANILA – The Development Budget Coordination Committee (DBCC) will meet in early December to reassess the Philippines’ economic targets for 2026 and 2027 amid global uncertainties, slower economic growth and climate-related challenges, Malacañang said Tuesday.
Palace Press Officer Claire Castro said the review would cover key economic indicators, including gross domestic product (GDP) growth, inflation and peso exchange rate projections.
Castro said the government expects adjustments to its economic assumptions and targets following the country’s weaker-than-expected economic performance.
“Alam naman po natin kung ano ang naganap at hanggang ngayon, nandiyan pa rin ang usapin tungkol sa krisis sa Middle East at nandiyan pa rin po ang malaking epekto ng very strong El Niño,” Castro said during a press briefing.
She noted that the continuing Middle East crisis and the effects of a very strong El Niño remain significant challenges to the country’s economic outlook.
“So, magkakaroon po ng pagpupulong sa unang bahagi ng Disyembre ang Development Budget Coordination Committee or DBCC ng Economy and Development Council upang masuri pa ang mga microeconomic assumptions and targets,” she added.
Asked whether the administration remains confident of meeting its growth target after the economy expanded by only 2.1 percent in the third quarter, Castro said the government continues to implement measures to control inflation and sustain economic activity.
She cited the Department of Trade and Industry’s monitoring of 190 basic necessities and prime commodities to help stabilize prices, particularly during the Christmas season.
President Ferdinand Marcos Jr. has also directed concerned agencies to maintain sufficient supplies of food and petroleum products to prevent shortages that could further strain the economy, Castro said.
The Palace official emphasized the importance of attracting investments and strengthening the country’s business environment, particularly as the Philippines prepares to host the 49th Association of Southeast Asian Nations Summit and Related Summits.
She highlighted the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act as one of the administration’s measures to encourage investments and improve the business climate.
Castro added that the government continues to support micro, small and medium enterprises (MSMEs) by expanding access to financing and marketing opportunities.
“Sa ngayon, talagang pinagpupursigihan ng gobyerno ang mga proyekto, programs para maibsan unang-una ang pagtaas ng inflation rate para po hindi naman masyadong makaapekto sa ating ekonomiya,” she said.
Castro acknowledged that the country’s economic difficulties are influenced by broader global developments but maintained that the administration is pursuing measures to cushion their impact on Filipino households and businesses.
She assured the public that the government would continue prioritizing stable food and fuel supplies, inflation management and investment promotion to support economic recovery and growth.
The DBCC’s December meeting is expected to provide updated economic assumptions that will guide the government’s fiscal planning and policy priorities for 2026 and 2027.
