Philippines revises 2022 GDP growth target to 7%-8%

MANILA, May 24 (Reuters) – The Philippines has revised its 2022 gross domestic product growth target to 7.0%-8.0% from the previous range of 7.0%-9.0%, the government said on Tuesday

It also slightly lowered the budget deficit target to 7.6% of GDP from 7.7%, among revisions that it said took into account the impact of Russia-Ukraine conflict, China’s slowdown, and monetary normalisation in the United States.

(Reporting by Neil Jerome Morales; Editing by Martin Petty)

((neiljerome.morales@thomsonreuters.com; +632 8841 8914;))