RP to keep growth targets

RP to keep growth targets

MANILA (AFP): The Philippines is maintaining its growth targets this year despite the likely global economic fallout from the terrorist attacks against New York and the Pentagon last week, an official said Tuesday.

President Gloria Arroyo's government has put in place a "set of options for dealing with any unexpected impact" of last week's attacks, including the U.S. government's response to the attack, Economic Planning Secretary Dante Canlas said.

The Philippines is projecting economic growth of between 3.3 to 3.8 percent this year and an inflation rate of six to seven percent. GDP expanded 3.3 percent in the first half and 3.9 percent last year.

Canlas agreed there was a lot of uncertainty surrounding an expected U.S. strike against international terrorist Osama bin Laden.