S&P Global Ratings trims PH growth forecast
Credit to Author: MAYVELIN U. CARABALLO, TMT| Date: Mon, 29 Apr 2019 04:21:06 +0000
S&P Global Ratings trimmed its 2019 Philippine growth forecast, 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 its previous forecast of 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, as the lagged effects of last year’s monetary tighening dampen private investment, and the budget delay affects the government’s Build Build Build program in the first half of the year,” S&P said.
The post S&P Global Ratings trims PH growth forecast appeared first on The Manila Times Online.