Photo by Ted ALJIBE / AFP
MANILA, Philippines — Economic growth in the Philippines likely slowed to its weakest quarterly pace in nearly two decades outside the pandemic, as war-driven inflation squeezed consumers and businesses while government spending remained hobbled by a recent corruption crackdown.
Gross domestic product (GDP), the value of all goods and services produced in the country, likely expanded by just 2.7 percent from a year earlier in the second quarter, according to the median estimate of 14 economists surveyed by the Inquirer last week.
READ: BSP sees inflation holding above target in July
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