By Katherine K. Chan, Reporter
MOODY’S RATINGS said the Philippines’ medium-term growth outlook seems bleak as its slow investment recovery and vulnerability to climate-driven shocks may derail its economic rebound.
In a statement following its latest rating action on the Philippines, the debt watcher said the country’s gross domestic product (GDP) growth is expected to hover below its pre-pandemic level of around 6% over the medium term.
“The Philippines’ medium-term growth will continue to be underpinned by favorable demographics, resilient remittances and service exports, and a gradual strengthening of investment as confidence recovers, with electronics and other goods exports providing a more marginal offset,” Moody’s Ratings said late on Monday.
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