DBCC targets an exercise in guessing

PHOTO FROM DBM

THE manner in which economic planning is conducted in the Philippines needs to be comprehensively rethought because it results in forecasts that lack credibility. About a week ago, the Development Budget Coordination Committee (DBCC) held its 177th meeting and, for approximately the 177th time, adjusted its economic growth targets for the Philippines, in this case, lowering the bar on most of its aspirations for 2019.