Philippines confident in attaining lower end of GDP target for 2023

MANILA (Reuters) – The Philippines is confident it can still hit the lower end or stay in the vicinity of its 6%-7% gross domestic product growth target for the year, Economic Planning Secretary Arsenio Balisacan told a press conference.

Reforms in the government will allow the Southeast Asian nation to sustain its growth in the medium and long term, Balisacan said.

The Philippine economy grew 5.5% in January to September.

The government is monitoring risks like the El Niño dry weather pattern and geopolitical tensions that could raise uncertainty and disrupt supply chains, Balisacan said.

(Reporting by Mikhail Flores; Writing by Neil Jerome Morales; Editing by Kanupriya Kapoor)