BIZ BUZZ: Drama at DBCC?

Is there a rift in the economic team? Some folks are wondering after a few unexpected moments during last week’s Development Budget and Coordination Committee (DBCC) press conference.

The 191st DBCC meeting—where key government economic targets are set—had a few firsts.

For starters, it was the first time the secretary of the newly created Department of Economy, Planning and Development (DepDev), formerly Neda) sat as vice chair. The secretary of DepDev recently took over as head of the economic team—a post that was previously held by the finance chief.

It was also DepDev’s first time hosting the DBCC press briefing at its Mandaluyong office. Previously, these were held at the Finance department’s headquarters in Manila.

But things got interesting when reporters saw the DBCC’s updated growth targets in a breaking news before the official 4 p.m. press conference even began. According to the headline, the finance chief—who skipped the event and sent another official in his place—revealed that the growth outlook for 2025 has been tempered.

Traditionally, those numbers are top-secret until formally announced by the budget secretary—who chairs the DBCC. So, the early release caught both the press and other DBCC members off guard.

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But when asked if there was tension in the ranks, Budget Secretary Amenah Pangandaman immediately dismissed the idea. And honestly, that is all the assurance that we need.