THE Philippines will remain one of the fastest-growing economies in the Asia-Pacific (APAC) region but other countries could perform better, Moody’s Analytics indicated on Wednesday.
India and Vietnam are expected to lead the APAC growth this year, the financial intelligence firm said in an updated outlook, with China not expected to add “any heft” given its ongoing economic issues.
“We have already lowered our outlook for the Philippines this year,” Moody’s Analytics noted.
“It will still be one of the regional leaders, but high inflation and interest rates along with uneven government and investment spending have slowed growth over the past three quarters, to the point that Philippine GDP (gross domestic product) declined in the second quarter from the first on a seasonally adjusted basis,” it noted.
Domestic April-June growth of 4.3 percent was significantly lower than the first…
