Think tank raises PH growth forecasthome/Business/Top Business/Think tank raises PH growth forecastAn Asean + 3 think tank has raised its 2019 growth forecast for the Philippines, citing an expected recovery in private consumption and the continuation of a massive government infrastructure program. “Private consumption is also expected to recover as inflation pressure eases and consumer confidence is restored. The major external risks involve rising trade tensions and a sharp tightening of financial conditions while domestically, “higher-than-expected inflation and pockets of financial vulnerabilities are the key concerns.”“While domestic risks have started showing signs of easing, external risks have remained heightened. Amro said the government should calibrate fiscal policy to contain inflation pressures and support the external position by reprioritizing expenditures. Monetary authorities, meanwhile, should hold off from adjusting policy until consumer price growth remains “firmly” within the target band, the think tank said.

Source: Manila Times February 18, 2019 17:48 UTC