RISING FOOD PRICES, a stronger-than-expected El Niño, sluggish local government spending and high interest rates are among the domestic threats to the Philippines’ growth target for next year, the Finance department said on Tuesday.
At a Palace briefing, Finance Secretary Benjamin E. Diokno said possible “elevated prices due to inadequate food supply” is a major domestic risk to the government’s 6.5%-8% gross domestic product (GDP) growth target for 2024.
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