2021 growth target may be exceeded

THE government is more likely to surpass its economic growth target this year, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno, thanks to a stronger-than-expected third-quarter gross domestic product (GDP) expansion.

"Philippines' GDP grew 7.1 percent, year on year, in the third quarter. This stronger-than-expected growth — versus BSP's forecast of 6.2 percent, for example — increases the likelihood that the revised growth projection of 4 to 5 percent in 2021 would be exceeded," he said in a message to reporters on Tuesday.