The Development Budget and Coordination Committee (DBCC) is scheduled to meet next month to review the Philippines’ economic targets for 2026 and 2027, according to Communications Undersecretary and Palace Press Officer Claire Castro.
Speaking during a Palace briefing on Tuesday, November 10, Castro noted that the review follows recent economic challenges, including the ongoing Middle East crisis and the effects of a strong El Niño phenomenon.
”So ayon na rin po sa DEPDev ay rirebesahin nila ang target para sa 2026 at 2027, kabilang iyong paglago ng GDP, inflation at ang halaga ng palitan ng piso,” Castro said.
”So, magkakaroon po ng pagpupulong sa unang bahagi ng Disyembre ang Development Budget and Coordination Committee or DBCC ng Economy and Development Council upang mas masuri pa ang mga [micro-economic] assumptions and targets,” she added.
Despite these headwinds and a third-quarter GDP growth slowdown to 2.1%, Castro emphasized that the administration is implementing measures to control inflation and monitor the prices of essential goods, such as canned items and milk. She also highlighted the importance of food and fuel security, alongside positioning the country as an investment destination—particularly as the Philippines hosts ASEAN.
Addressing comparisons with neighboring countries regarding economic performance, Castro attributed the disparity to the country’s vulnerability to natural disasters and climate change.
”Ang nararanasan kasi ng Pilipinas ay malamang hindi nararanasan ng ating mga kapitbahay. Hindi nila naranasan ang sunud-sunod na pagbaha, ang sunud-sunod na malakas na bagyo at iyong nararanasan natin ngayon na climate change, I mean, the very strong El Niño,” Castro said.
”Iba ang epekto nito sa Pilipinas. Malapit tayo sa Pacific Ocean, mas mabilis tayong bisitahin ng malalakas na bagyo,” she added.