GROWTH TARGETS for 2011 will be reviewed but economic managers are likely to keep the "conservative" outlook used in next year’s budget, officials yesterday said.
"We will review our operational targets after the release of third quarter growth [data for 2010] but most likely we will maintain our 5% growth goal [for] next year," Finance Assistant Secretary Ma. Teresa S. Habitan said.
Economic results for July to September will be released next month.
Ms. Habitan is a member of the Executive Technical Board that advises the Development and Budget Coordination Committee (DBCC), the interagency body that sets the country’s macroeconomic targets.
While next year’s gross domestic product growth goal has been pegged at 7-8%, the P1.645-trillion budget for 2011 assumes a lower 5% target.
"The 7-8% is an aspiration. And the effect of PPP (public-private partnerships) to the economy will most likely not come next year but later on," Ms. Habitan said.
Budget Secretary Florencio B. Abad, the DBCC chairman, said: "We are still at 5%. That 7-8% is assuming that PPP will contribute to the economy. But again, it’s not entirely dependent on that since investments may also come in other forms than PPP."
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