The government is reviewing its fiscal targets as it prepares the proposed 2027 national budget, Budget Secretary Kim De Leon said.
In a statement read by Palace Press Officer Claire Castro on Monday, De Leon said the Development Budget Coordination Committee met to reassess its economic assumptions based on recent movements in growth, inflation, foreign exchange, and oil prices.
“The DBCC met to recalibrate assumptions based on latest developments on economic growth, inflation rates, foreign exchange and oil prices,” De Leon said.
He said the economic team would further study how these factors could affect the country’s fiscal position in the short and medium term.
“The committee has agreed to further study the effects of these variables in the country’s fiscal position in the short and medium term,” he added.
De Leon said the revised figures would be used as input in crafting next year’s budget.
“Recalibrated figures will be finalized to serve as input for the preparation of the 2027 budget,” he said.
Castro did not disclose the possible new targets.
She said Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. also briefed President Ferdinand Marcos Jr. on the country’s inflation outlook, including the impact of the Middle East conflict and other data being reviewed ahead of the BSP’s next monetary policy meeting.
The government is currently targeting economic growth of 6 to 7 percent this year and aims to bring the debt-to-GDP ratio below 60 percent by 2029.