TUESDAY, FEBRUARY 24, 2009
Recto expects "slight" reduction in GDP growth forecast for Q1

Socioeconomic Planning Secretary Ralph G. Recto, in a press briefing yesterday, said that there will be no significant reduction in GDP growth forecast for the first quarter of this year due to continued lowering of inflation rate.

“There will be a slight reduction but I don’t expect growth forecast to be dramatically decreasing. This is because we expect inflation to fall,” he said adding that it is still possible for GDP to grow 4 percent.

The NEDA Director General also said that it is more likely that the low-end target will be maintained and the high-end will be slightly adjusted. He reiterated that “we are not yet ready to give up the 3.7 to 4.7 growth target at the moment”.

Click here to read the transcript of the press briefing.

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