The Philippines will need to post at least 3.7 percent growth in the next three quarters to achieve the revised growth target for the year, according to the Department of Economy, Planning and Development (DEPDev) as reported by Philstar Biz.
The statement underscores the challenge facing the Philippine economy after the government revised its GDP growth target downward earlier this year. Economic managers have cited global headwinds and domestic factors that could temper expansion, making the 3.7% quarterly average necessary to meet the full-year goal.
DEPDev officials emphasized that achieving the target will require sustained policy support and robust performance across key sectors including services, manufacturing, and agriculture. The department continues to monitor economic indicators closely to ensure the country stays on track for the remainder of the year.