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MANILA, Philippines —The country's economic growth targets are still achievable despite expectations of slowed government and infrastructure spending as a result of recent exposes on corruption, according to Socioeconomic Planning Secretary Arsenio Balisacan.
“[T]he low end of the range is very much achievable,” said Balisacan
Earlier this year, the Development Budget Coordination Committee lowered the country's economic growth target rate to 5.5 to 6.5 percent from the previous 6 to 8 percent.
Balisacan said the country's development partners and investors were aware of the corruption issues in the country, and added that while it was not something new, a lot of them were surprised by the extent of the issue.
However, Balisacan said that he believed that the setbacks from the corruption issue were temporary.
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Credit belongs to : www.manilatimes.net/