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Philippines retains GDP target for 2022, cuts targets for 2023

MANILA, Dec. 5 (Xinhua) — The Philippine government economic team on Monday retained its 2022 gross domestic product (GDP) target of between 6.5 percent to 7.5 percent.

It in the meantime cut the forecast for 2023 to 6 percent to 7 percent from earlier 6.5 percent to 8 percent amid external headwinds.

The inter-agency Development Budget Coordination Committee (DBCC) said the reopening of the economy incr