Philippines says studying revising GDP targets

Published: 01 Sep 2009 18:42:00 PST

MANILA, Sept 2 - The Philippine government is considering raising its targets for GDP growth this year and next year, the country's chief economic planner said on Wednesday.

Augusto Santos, currently head of the National Economic and Development Authority, told Reuters that the targets of 0.8-1.8 percent GDP growth this year and 2.6-3.6 percent next year could be revised upward.

"It may be possible," he said. "The technical working group is working on a possible upward adjustment.

"Inflation is benign and if inflation is benign it means that there is still room for pump-priming, there is still room for spending. The economy still has capacity to absorb spending."