The Philippine economy may post a faster growth of above seven percent this year before slowing down next year due to external headwinds and internal challenges, according to Moody’s Analytics.
The Philippine economy is expected to grow by more than seven percent this year after roaring back in the third quarter despite soaring inflation and rising interest rates, economists said. DBS Bank Ltd. of Singapore raised its 2022 gross domestic product growth forecast for the Philippines to 7.4 percent but maintained its 6.3 percent projection for next year.