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MANILA, Philippines — The Philippines is not yet experiencing stagflation despite rising inflation and slowing economic growth, but the government needs to restore investor confidence and maintain policy credibility to prevent a deeper slowdown.
This is according to economist Jonathan Ravelas, who said the Philippine economy is now at an “inflection point” as it braces for possible stagflation following another weak growth print and intensifying inflationary pressures.
Speaking during a Pandesal Forum, Ravelas said: “There are potential stagflation risks, but we’re not there yet. Since the third quarter, the Philippine economy still recorded positive economic growth. So there’s still no talk of recession.”
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