5 months S&P cuts PH growth projection to 6.3% Manilatimes |Biz
S&P Global Ratings has trimmed its Philippine growth forecast for 2019, citing high interest rates and the delayed approval of the national budget as reasons behind the adjustment. A report released on Monday showed that the debt watcher has a 6.3-percent growth outlook for the Philippine economy this year, a slight downward adjustment from the previous 6.4 percent. The projection was higher than last year’s actual growth of 6.2 percent and falls near the lower end of the government’s downwardly revised 6.0-7.0 percent target. “We expect growth to remain in the low end of the 6.0-6.5 percent range in 2019, ... more