Growth target downgraded

PHILIPPINES - In Brief 14 Mar 2019 by Romeo Bernardo

Yesterday, economic managers downgraded their GDP growth target for 2019 from 7-8% to 6-7%, blaming the continuing delay in the passage of the national budget. The budget, which was supposed to have been transmitted for the President’s signature early this month, hit an unexpected snag when the Senate refused to sign-off on the enrolled bill, accusing the Lower House of amendments after both chambers had ratified the bicameral conference committee report. The President reportedly tried to break the impasse in a meeting in Malacanang Tuesday night but apparently failed to resolve the problem...

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