MANILA, Philippines — Growth may slow down to 4.2 percent this year if the government operates on a reenacted budget for the entire year, according to estimates of the National Economic and Development Authority (NEDA). The socioeconomic planning agency said yesterday that implementing a reenacted budget until April would bring down the full-year gross domestic product (GDP) growth to between 6.1 percent and 6.3 percent. This is below the government growth target of between seven and eight percent for this year. Worse, with a full-year reenacted budget, growth can go as low as 4.2 to 4.9 percent,” Socioeconomic Planning Secretary Ernesto Pernia said yesterday. Pernia said a reenacted budget would delay the implementation of new and ongoing infrastructure projects, as well as the implementation of public social services such as the unconditional cash transfer and Pantawid Pasada Programs.

Source: Philippine Star March 13, 2019 16:58 UTC