THE PHILIPPINE ECONOMY could face mounting pressure from rising political instability, with economists and business groups warning that this week’s chaos at the Senate may further weaken already fragile business and consumer confidence amid slowing growth, elevated inflation, and an ongoing energy crisis.
Alvin Joseph A. Arogo, head of research and chief economist at Philippine National Bank (PNB), said the events at the Senate on Wednesday would “certainly” not help an economy already grappling with weak sentiment tied to the flood control controversy, high inflation, and rising oil prices.
“If something like what you showed earlier happened, and we had strong growth, low inflation, a lot of reforms, then money managers can look through it,” he said in an interview on Money Talks with Cathy Yang on One News on Thursday.
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