The Philippines may see a slight improvement in economic growth and a drastic decline in inflation this 2019 after a challenging period last year, but the peso may resume a “gradual” depreciation to 55 against the US dollar through next year, economists from British banking giant Standard Chartered Bank said.
The country’s gross domestic product (GDP) may grow at 6.4 percent this year from last year’s 6.2 percent, still mostly driven by consumer spending, while average inflation will drop to 3.5 percent this year after spiking to 5.2 percent last year, Stanchart economist for Asia Chidu Naranayan said in a press briefing on Tuesday.
Read More: Philippine Daily Inquirer
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The Philippine Trade & Investment Center in Taipei is the Commercial Affairs Section of the Manila Economic and Cultural Office and the representative office of the Philippine Department of Trade & Industry in Taiwan