WB trims growth forecast, says economy remains strong 38 SHARES Share it! Despite the expected weaker GDP, the World Bank still noted that the Philippine economy will “remain strong” amid rising global uncertainty and inflationary pressures. The country’s growth slowed in the first half of 2018 due to weak exports of electronics and lower production from agriculture and fisheries due to unfavorable weather conditions. Also, high inflation rate poses another risk to Philippine growth which could dampen private consumption and investments, Hansl said. In addition, World Bank said reforms that boost domestic growth and reduce vulnerabilities of the country’s farming and fisheries sector will be essential to sustain high and broad-based growth.

Source: Manila Bulletin October 04, 2018 13:52 UTC