• Finance Secretary Ralph G. Recto believes that the economic growth forecast provided by multilateral organizations is the more realistic target range for the Philippines compared to the current government assumption.
  • During the Philippine Business Forum in Melbourne, Australia on Monday, March 4, Recto emphasized the 5.8 percent to 6.3 percent gross domestic product (GDP) growth forecast for 2024 projected by multilateral institutions.
  • Recto pointed out that this GDP growth band positions the Philippines as a frontrunner in economic expansion in the Southeast Asian region. However, the range is below the current target set by economic managers.