while the global economy continues to recover Despite the SLOT XO risk of COVID-19 more prevalent President Rodrigo Duterte's economic team expects merchandise exports to grow 10 percent faster this year to regain the area lost last year.
The Cabinet-level Development Budget Coordinating Committee (DBCC) during its meeting on Monday. It also upgraded its infrastructure projects for 2022,
the year Duterte stepped down, to P1.29 trillion from P1.25 trillion previously.The DBCC said in a statement it had raised its export growth target from 8% earlier "in line with an expected recovery in external demand".
In 2020, overseas shipments of Philippine-made products dropped 8.1% to $65.21 billion due to the global trade slump caused by the COVID-19 pandemic,