Swiss food giant Nestlé has reiterated its goal to grow organic sales by around 5% in the current fiscal, in spite of the swift deterioration of economies worldwide.

“Economies around the world have significantly weakened over the last few months and it is likely that developments could further impact consumer demand,” a spokesperson for Nestlé predicted.

However, the spokesperson told just-food: “Nestlé believes that it will once again be one of the industry’s fastest growing companies this year, in line with the long-standing Nestlé model. For 2009, Nestlé is committed to achieving organic growth at least approaching 5%, as well as a further improvement of the EBIT margin in constant currencies.”

The world’s largest food group recently indicated that its “popularly positioned products” (PPP) strategy would be an important growth driver in the coming year.

The strategy, which was originally developed to offer nutritional products at affordable prices in developing markets, was extended to developed markets, such as the US and Europe, in February.

“The PPP initiative is one of Nestlé’s key growth drivers for the future,” a spokesperson for the group told just-food last month.

“We’re going to introduce more PPP’s in developed countries in response to economic conditions which have prompted consumers to trade down.”