![]() “A resurgence in daily COVID infections since late July and the Philippines’ low rate of vaccination pose a risk to our growth forecasts,” Fitch said. ![]() MANILA, Philippines - Global debt watcher Fitch Ratings and regional think tank ASEAN+3 Macroeconomic Research Office (AMRO) both shaved off their growth forecasts for the Philippines this year, citing the slow pace of recovery in the first semester.įitch Ratings lowered anew the projected gross domestic product growth for the Philippines to 4.4 percent instead of five percent this year while the Singapore-based AMRO cut its GDP growth forecast to 4.3 percent, a huge downgrade from its 6.4 percent outlook in June. ![]()
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