WHILE gross domestic product data from the Philippines beat Oxford Economic’s expectations in the first quarter of 2023, the think tank said its tracker continues to soften, pointing to a significant weakening in growth due to poor export performance and delayed impact of a sharp monetary tightening.
In contrast, the UK-based think tank said, “Elsewhere the story is less upbeat” when it comes to the growth of the Philippines. The UK-based think tank mentioned that Bangko Sentral Pilipinas “is likely to be finished” after pausing its rate hikes for the first time recently.
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