THE Department of Finance (DoF) is optimistic about the sustained expansion of the Philippine economy this year amid domestic and global headwinds, saying the government has enough tools to boost rapid and inclusive growth. “Although these developments may affect our economic growth somewhat, we believe that this would not be enough to cause a dramatic reduction in growth,” the Finance official said. The government aims to post economic growth of 6.5 to 7.5 percent this year after recording a 5.9-percent expansion in 2019. “So we have the tools to propel the economy to greater heights, and we have proven that we can deliver,” said. “We see higher economic growth boosted by the swift congressional approval of the 2020 national budget and the extended validity of the 2019 budget,” Tionko said.

Source: Manila Times March 03, 2020 16:41 UTC