Government cuts growth targets through 2028MANILA, Philippines — The government has revised its economic growth targets from 2026 through the end of President Ferdinand Marcos Jr.’s term in 2028, citing slower momentum following last year’s corruption scandal. The government had previously targeted gross domestic product (GDP) growth of 6% to 8% annually from 2026 to 2028. Speaking at a press briefing shortly after the signing of the 2026 national budget, Balisacan said the budget could support GDP growth of 5% to 6% this year. He said growth is projected at 5.5% to 6% in 2027, with the government aiming for 6% to 7% growth in 2028. Focus on inclusive growthBalisacan also said the 2026 budget places greater emphasis on inclusive growth, rather than benefits concentrated among a limited segment of the population.

Source: Philippine Star January 06, 2026 08:40 UTC