THE Development Budget Coordination Committee (DBCC) adjusted its fiscal targets following a weaker-than-expected first-quarter growth and surging inflation in the face of the Middle East crisis, the Palace said on Monday, as reported by BusinessWorld .
Citing Budget Secretary Kim Robert C. de Leon, Palace Press Officer Clarissa A. Castro said the DBCC’s meeting with President Ferdinand R. Marcos, Jr. led to the revision. The committee considered the economic headwinds from the geopolitical tensions and their impact on domestic prices and growth.
The adjusted targets aim to align fiscal policy with the country's economic realities, as the government seeks to maintain stability amid external pressures. Further details on the revised figures are expected to be released in the coming days.