The Philippine economy is expected to lose momentum in 2023 with the pace of expansion set to slow to 5.7% as soaring inflation and higher interest rates crimp domestic demand, the World Bank said.
The Philippine economy is expected to lose momentum in 2023 with the pace of expansion set to slow to 5.7% as soaring inflation and higher interest rates crimp domestic demand, the World Bank said on Tuesday.
The World Bank expects the Philippines to end 2022 on a strong note with the economy forecast to grow 7.2%, much higher than its previous growth projection of 6.5%, after the Southeast Asian country’s robust performance in January to September.averaged 7.7% in the nine months
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