Philippine economic growth is expected to slow to 4.1% this year, as external headwinds and elevated inflation are seen to dampen domestic demand, Oxford Economics said.
Buckets of fish are sold at the Navotas fish port in this file photo. — PHILIPPINE STAR/MICHAEL VARCASpected to slow to 4.1% this year, as external headwinds and elevated inflation are seen to dampen domestic demand, Oxford Economics said.
There is a widely anticipated global recession this year, with the World Bank projecting global growth to slow to 1.7%.In January, inflation soared to a 14-year high of 8.7%, marking the 10The central bank also raised its average inflation forecast to 6.1% this year from 4.5% previously. Oxford Economics also cited the lack of policy support as a factor contributing to slower growth this year.
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