The government will likely miss its 2023 growth target of 6 percent to 7 percent amid global headwinds, economists from
First Metro Investment Corp. and University of Asia and the Pacific said in a joint report Wednesday.
“Thus, we still see full year GDP growth at a respectable 5.5 percent despite the global slowdown,” they said. The economists said the services sector should see domestic and foreign tourism drive trade, transportation and storage and accommodations and food services starting September. Oxford Economics said earlier the economy felt the impact of monetary tightening done by the Bangko Sentral ng Pilipinas to rein in inflation.
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