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“There doesn’t seem to be any indication at all that these issues have remarkable adverse effects on the economy,” Economic Planning Secretary Arsenio Balisacan said on Thursday, shortly after the government reported first-quarter growth of 5.7 per cent, below a 5.9 per cent expansion seen in a Bloomberg survey.
MANILA -- The Philippines, the world's top rice importer, is moving to cut tariffs on the staple food from 35% to 15% through 2028 to ease the country's inflation woes. But analysts worry the move could benefit foreign producers such as Vietnam and leave Filipino farmers struggling to compete.
MANILA -- The Philippines, the world's top rice importer, is moving to cut tariffs on the staple food from 35% to 15% through 2028 to ease the country's inflation woes. But analysts worry the move could benefit foreign producers and leave Filipino farmers struggling to compete.
MANILA (Reuters) -- The Philippines has lowered its target growth range for this year and also turned slightly less optimistic about next year's outlook due to high inflation and an anticipated slowdown in the global economy, its economic planning minister said on Thursday.
Gross domestic product expanded 5.6 per cent, surpassing the median 5.5 per cent growth seen in a survey of economists. The economy grew at a similar pace from a year ago in the final quarter of the year, while on a quarter-on-quarter basis, it clocked 2.1 per cent.