Good day. Here are the stories for The Manila Times for Thursday, October 5, 2023.
Today's episode is brought to you by Wilcon Depot, The Philippines' leading home improvement and construction supplies retailer—your Trusted Building Partner.BANNER: Marcos vows justice for 3 dead fishermenPRESIDENT Ferdinand Marcos Jr. on Wednesday vowed to hold accountable those behind the death of three Filipino fishermen off Bajo de Masinloc in the disputed West Philippine Sea. The Philippine Coast Guard said at 4:20 a.m.
still bullish but trims PH forecastOver to business, the Philippines will likely miss this year's growth target but is still expected to outpace the region, the Asean+3 Macroeconomic Research Office said on Wednesday. Second-quarter growth was weaker than expected, chief economist Hoe Ee Khor said in a briefing, but clarified that they remain bullish on the country compared to consensus.
cut its 2023 forecast for the country to 5.9 percent, down from 6.2 percent previously and below the government's goal of 6.0 to 7.0 percent. The forecast for next year was kept at 6.5 percent, at the bottom end of the 6.5- to 8.0-percent target for 2024-2028. The outlook for Asean+3, which comprises the 10 members of the Association of Southeast Asian Nations and trading partners Japan, South Korea and China, was trimmed to 4.3 percent from 4.6 percent.
, which was established to monitor, assess and report on economic and financial conditions in the region, joined other international organizations in lowering forecasts for the Philippines. On Tuesday, the International Monetary Fund said it now expected the country to post 5.3-percent growth this year, down from the 6.2 percent projected in July. It expects growth to pick up in 2024 by 6.0 percent, however, improving from the previous forecast of 5.5 percent.
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