DOF aims for 6% PH economic growth by Q2 2024

Transcript

00:00The Department of Finance, or DOF, said the government is on track to meet its medium-term

00:05fiscal framework targets.

00:07Isaiah Mirafuentes has the full details.

00:13Finance Secretary Raul Precto is confident the economy will continue to grow.

00:17We are on track, like I said, to meet our medium-term fiscal framework plan.

00:24So for the first six months of the year, we collected almost 50% of our target for the

00:32entire year.

00:33He aims for the country to achieve a 6% economic growth in the second quarter of 2024, and

00:40developments indicate the country is still in target range.

00:43Of course, there are many more challenges.

00:46For example, inflation is high this July, but within the entire year, we expect that

00:53within the range of 2.2% to 4% range is the inflation target.

01:00Meanwhile, the Secretary hinted on the country's overall debt potentially reaching Php20 trillion

01:06by the year 2028.

01:08However, despite this, he also expects the country economy to hit a Php37 trillion valuation

01:14in 2028.

01:16The agency is also studying the viability of taxing all individuals and businesses earning

01:21online, including vloggers, influencers, and social media sites like Meta and TikTok.

01:27I'm Zion Mirafuentes from the National TV Network for the New and Better Philippine.