The Philippine economy will likely post a slower growth of 5.9 percent in 2023, compared to the 46-year high of
7.6 percent in 2022 amid weaker external demand, the ASEAN+3 Macroeconomic Research Office said Tuesday.
AMRO recently conducted its annual consultation visit to the Philippines from Aug. 29 to Sept. 8, 2023. The AMRO team was led by group head and principal economist Runchana Pongsaparn. The discussions focused on the risks and challenges facing the Philippines, and policy options to sustain the growth momentum, manage elevated inflationary pressures, restore fiscal buffers, and address long-term structural issues.
“Meanwhile, domestic demand is expected to remain robust supported by continued improvement in labor market conditions, lower inflation, robust overseas remittances, and higher government infrastructure spending,” Pongsaparn said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A delicious Taiwanese feast awaits you at 2023 Taiwan Food Tour in the Philippines!Food plays a central role in just about any culture and in Taiwan, just like in any country, food is
Read more »
SeaBank Philippines recognized at Global Payments Innovation Awards 2023SeaBank Philippines Inc. (A Rural Bank) won the top award in the Best Security Application in Payments Initiative category and
Read more »
SeaBank Philippines won top honors at Global Payments Innovation Awards 2023Manila, Philippines, - SeaBank Philippines, Inc. (A Rural Bank) won the top award in the Best Security Application in Payments Initiative category and the highly-acclaimed recognition in the Best Data and Analytics Application in Payments Initiative at the Global Payments Innovation Awards 2023. Th
Read more »
ASEAN think tank sees Philippines growing 5.9% in 2023The Philippine economy will likely post a slower growth of 5.9 percent in 2023, compared to the 46-year high of
Read more »
FIBA praises Manila's hosting of World CupThe International Basketball Federation (FIBA) heaped praises to the Philippines' hosting of the Basketball World Cup.
Read more »
Mixed emotions for SBP president Al S. Panlilio at end of FIBA World Cup 2023Al S. Panlilio, president of the Samahang Basketbol ng Pilipinas, In the waning hours of the FIBA World Cup 2023
Read more »