Arroyo urges to up forecast for 2010

President Gloria Macapagal-Arroyo shakes hands with visiting Prime Minister Jan Fischer of the Czech Republic during a courtesy call on her Monday (Sept. 7) at Malacañang’s Music Room. Prime Minister Fischer arrived in Manila for a two-day official visit. (AP photo)

PRESIDENT Gloria Macapagal-Arroyo on Tuesday ordered her economic managers to raise the growth forecast for next year to 4 percent, from the current estimate of 2.6-3.6 percent.

Arroyo gave the instruction during the Cabinet meeting held at the Bureau of Immigration main office in Intramuros.

“The President found the 2.6-3.6 percent GDP (Gross Domestic Product) projection a little bit on the low side. She feels it can grow faster,” Acting Planning Secretary Augusto Santos said in a press conference after the Cabinet meeting.

“We feel it is realistic. The Development Budget Coordinating Council (DBCC) will have to meet and see if we can extend the upper end of the 3.6 percent to 4 percent,” Santos said.

The DBCC is actually scheduled to meet to review the current growth targets in the light of a better economic performance in the second quarter. (more)

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