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The Philippine authorities’s financial managers on Monday lowered the expansion outlook for 2023, following a 12 months of record-high inflation and the substantial weakening of the native foreign money.
The inter-agency Improvement Finances Coordination Committee (DBCC) lower the expansion forecast for the nation’s gross home product—which is used as a measure of the dimensions and well being of a rustic’s economy—to 6-7 %, from the unique 6.5-8 %.
“This momentum is predicted to barely decelerate in 2023 and vary from 6 to 7 % contemplating exterior headwinds, such because the slowdown in main superior economies,” the DBCC mentioned in a press release.
The DBCC is comprised of the secretar…
Carry on studying: Gov’t cuts financial development forecast for 2023 to 6-7%
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