MANILA – Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno remains optimistic of a 6-percent economic growth this year despite the impact of the coronavirus disease 2019 (Covid-19).
In a briefing Thursday, Diokno said the country remains less affected by the epidemic despite the rise of cases in more countries.
“Most of the things that we plan to do are not heavily affected by the coronavirus like the Build, Build, Build,” he said.
Diokno said if he is still the Secretary of the Department of Budget and Management (DBM), he will propose for a supplemental budget to further boost state spending.
“There are many things that we should do while the whole world is in a mess. Marami tayong homework na kailangang gawin (We have a lot of homework to do) so that when all of these settle down, we’ll be in a stronger position again,” he added.
Diokno said the government should focus more on the implementation of its infrastructure program and educating its youth, among others, since these are among the drivers of growth.
The government targets an expansion of between 6.5 to 7.5 percent this year.
Economic managers are firm on pushing for more reforms to ensure the recovery of the domestic economy.
The country’s gross domestic product (GDP) accelerated by 5.9 percent in 2019, below the government’s 6-6.5 percent target due to the impact of the delay in the approval of last year’s national budget. (ia/PNA)