THE government is scaling back its growth expectations following fresh headwinds that have compounded earlier setbacks, a Cabinet official said on Wednesday. Socioeconomic Planning Secretary Arsenio Balisacan acknowledged that economic growth was likely to fall short of targets, citing the cumulative impact of last year’s corruption issues and the war in the Middle East. “It would be [slower], given this unforeseen development,” he told reporters. “We’re trying to recover from the infrastructure issue last year. And then you are hit again by an even more serious problem. So it’s, of course, understandable that you can’t expect to be better than what you had in previous quarters,” he added. Growth targets were lowered last December as a massive flood control project scandal led to government spending cutbacks and dampened consumer and business sentiment. Instead of 6.0-7.0 percent, the government is now aiming for just 5.0- to 6.0-percent growth this year.   https://www.manilatimes.net/2026/04/30/business/top-business/govt-sees-slower-growth/2331734 (ICE SINGAPORE)

Fonte notizia: The Manila Times, 30 April 2026