PHILIPPINE economic growth may fall below 4% in the near term as the billion‑peso flood control scandal drags on, affecting government spending and dampening consumption and sentiment, Nomura Global Markets Research said.
“I think going forward, these spillover effects (from the graft scandal) will also expand,” Nomura Chief Association of Southeast Asian Nations (ASEAN) Economist Euben Paracuelles told Money Talks with Cathy Yang on One News on Thursday.
The scandal, which curbed state spending last year, is expected to dampen household consumption and business investment amid weaker sentiment, he added.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased
