Philippines Finance Chief 'Very Confident' Keeping the Budget Deficit Under Control

The video discusses the economic outlook for the year, focusing on growth targets, inflation control, and fiscal management. Despite challenges, there is confidence in achieving a 7% growth rate and maintaining inflation between 2-4%. The video also covers infrastructure development and private sector adaptation to interest rate changes. Fiscal strategies are in place to manage the budget deficit, aiming for a 3% of GDP deficit.

What is the economic growth target for the year, despite the challenges faced?

• 7%

• 6%

• 5%

• 8%

What is the predicted inflation rate for the year?

• 1-2%

• 4-5%

• 2-3%

• 3-3.1%

What actions have been taken to manage inflation effectively?

• Increased taxes

• Monetary and administrative actions

• Reduced government spending

• Increased import tariffs

What is the target for the budget deficit as a percentage of GDP?

• 4%

• 5%

• 3%

• 2%

How has the private sector adapted to the interest rate increases?

• By halting expansion plans

• By seeking government subsidies

• By building and working with the rate increases

• By reducing investments