Up to 7.5% 2022 GDP growth target ‘easily attainable’ – Diokno

Up to 7.5% 2022 GDP growth target ‘easily attainable’ – Diokno

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno believes that the agency’s 6.5 to 7.5% Gross Domestic Product (GDP) growth target in 2021 is “easily attainable,” due to the “further easing of restrictions, improvements in the healthcare system, and the full cooperation from each one of us to do what it takes to keep viral transmission under control.”

The BSP chief added that the unemployment rate is expected to decline from a record-high 17.6 percent in April last year to seven per cent this year due to the expanding economic activity.

The latest Monetary Board assessment forecasts the country’s inflation rate will reach 3.2%. The BSP said, “The BSP continues to expect inflation to settle within the target range over the policy horizon… The recent uptrend in inflation is seen to be largely transitory reflecting the short term impact of weather disturbances.”

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