This year’s economic growth target can still be hit if capital formation substantially picks up in the last six months of 2018, a senior Finance department official said.

Finance Undersecretary Gil Beltran told reporters that with gross domestic product (GDP) growth at a cumulative 6.3 percent in the first half, a 7.7-percent expansion is needed in the second semester to be able to achieve the lower end of the 7.0-8.0 percent target for 2018 to 2022.