The Development Budget Coordination Committee (DBCC) has maintained its growth target at 7 percent to 8 percent for the rest of 2015, except for the lower growth targets in export services which is down to 13.6 percent from 15 percent due to threats of Middle East Respiratory Syndrome-Corona Virus (MERS-CoV) in the tourism sector.
Budget Secretary Florencio B. Abad, also the DBCC head, on Tuesday said the DBCC has approved the recommendation of the Bangko Sentral ng Pilipinas and the Department of Finance with respect to growth targets except for export services.
“Export services are on a downward trend at 13.6 percent from 15 percent. We need to take into account what’s going on in the global market place,” Abad at a news briefing on Tuesday following the DBCC meeting at the Department of Budget and Management in Manila.
Secretary Arsenio M. Balisacan of the National Economic and Development Authority explained that the lower growth projection of exports services was due to the impact to tourism sector of the dreaded MERS-CoV virus.
Earlier, three South Korean tourists were admitted at the Manila Doctors’ Hospital due to suspected cases of MERS-CoV. But the Department of Health on Tuesday said the three South Koreans were tested negative of MERS-CoV.