Growth goals kept due to consumer spending hike

MANILA, Philippines – Growth targets need not be adjusted for now as consumer spending is expected to continue spurring economic activity, a preliminary government analysis showed.

This year’s inflation forecast, however, may be lowered and the deficit cap will have to be increased given the likelihood of reduced revenues, Finance Undersecretary Gil S. Beltran said.

With respect to the growth target, “It’s still the same for now,” he said.

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