8 months PH expected to miss 2019, 2020 GDP goals Manilatimes |Biz
Philippine economic growth will fall below target this year and the next, one of the big three debt watchers and an economist from a multinational investment bank said on Wednesday. Workers work on iron bar posts at the MRT-7 construction site along Commonwealth Avenue in Quezon City. PHOTO BY RUY MARTINEZCiting high interest rates and weak external demand, S&P Global Ratings forecast gross domestic product (GDP) growth of 6.4 percent for 2019 and 6.6 percent for 2020, below the government’s 7.0-8.0 target for both years. UBS Executive Director and senior economist for Asean David Teather, meanwhile, told reporters that growth ... more