MANILA – The government is still optimistic about reaching its growth target of 7.0 to 8.0 percent this year, even if such goal is merely “aspirational.” Socioeconomic Planning secretary Ernesto Pernia said.
“A seven to eight percent has been an aspiration, and I think no admin has achieved that kind of economic growth over time,” Pernia told reporters in Quezon City.
“Maybe for one year, one or two years, those numbers have been achieved, but not in a sustained fashion because of the external environment and certain things that are beyond our control,” he said.
The Duterte administration is targeting 7.0 to 8.0 percent in 2019, even though the gross domestic product (GDP) results fell short of the downward-revised target of 6.5 to 6.9 percent in 2018.
The inter-agency Development Budget Coordination Committee (DBCC) has kept the target at 7.0 to 8.0 percent from 2019 to 2022.
“I said aspiration, but it’s a determined aspiration. It’s a goal, it’s a target,” Pernia said.
“In terms of our growth potential, that is the holy grail. Somewhere there is the holy grail and we want to achieve that. So we are serious,” he added.
This year, Pernia said the government is relying on the government’s ‘Build, Build, Build’ program to spur growth, on top of improving exports.
“We really go full blast on our Build, Build, Build program and also make a more determined … effort in improving our export performance,” he said.
Pernia noted, however, that spending on infrastructure could slow down due to the re-enacted budget, as well as the construction ban to be imposed before the mid-term elections in May.
“There are many politicians running for election or re-election. I hope their spending can, to some extent, offset the drawbacks from the re-enactment of the budget,” he said. (GMA News)
