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Philippines: Growth projected at only 4.1% in 2023

MANILA, Philippines — The Philippine economy may grow by just 4.1 percent next year, below the government’s target of 6.5 to eight percent, due to elevated inflation and the risk of a global recession, according to Economist Impact, the research arm of The Economist Group. Economist Impact regional policy and insights head Andrew Staples warned […]

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Philippines: Government says painfully high inflation to temper growth in 2023

MANILA, Philippines — The Marcos Jr. administration projected on Tuesday that the Philippines’ economic growth will be tempered next year, especially since they expect the country will be at the mercy of global headwinds that stoked inflation.  This is what the public should expect, according to Socioeconomic Planning Secretary Arsenio Balisacan, since global headwinds led […]

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Philippines: OFW remittances up 4% in August

MANILA, Philippines — The amount of US dollars sent home by overseas Filipino workers (OFWs) to their families in the Philippines grew at a faster rate of more than four percent in August, according to the Bangko Sentral ng Pilipinas (BSP). It said personal remittances – the sum of net compensation of employees, personal transfers, […]

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