High growth imperative and fiscal consolidation
High growth imperative and fiscal consolidation April 2, 2024 | 12:02 am My Cup Of Liberty By Bienvenido S. Oplas, Jr. https://www.bworldonline.com/opinion/2024/04/02/584959/high-growth-imperative-and-fiscal-consolidation/ The Development Budget Coordination Committee (DBCC) composed of the Departments of Finance and Budget and Management (DoF and DBM), the National Economic and Development Authority or NEDA, plus the Bangko Sentral ng Pilipinas will announce the GDP growth targets for 2024 to 2028 this week. They will decide, among others, whether to keep the 6.5% to 7.5% growth targets made in the November 2023 meeting or revise them to 6% to 7%. Personally, I wish that we would target 8-9% yearly growth because of our low per capita income — we need to raise it high enough in a short period. I believe 8-9% is becoming realistic as the global economic environment is not improving, it seems to be worsening. The continued high interest rate policy is not conducive for large business ex...