Economy Secretary Arsenio M. Balisacan said the Philippines can still achieve UMIC status this year despite the weaker-than-expected 4.4% gross domestic product (GDP) growth last year. Analysts said the Philippines achieving UMIC status carries symbolic weight but cautioned that it is a weak measure of real development. At its December meeting, the DBCC cut its GDP growth target to 5-6% for this year, from 6-7% previously. “Now, obviously, the lower growth for next year… will impact revenue collections relative to what we initially expected,” Mr. Balisacan said. Mr. Balisacan said government efforts, particularly in light of the flood control project scandal, were focused not only on expanding expenditures but also on enhancing spending quality.