Economists have upgraded their forecast growth for the Philippines this year, but still at a slower pace than last year amid headwinds such as a slowdown in the global economy and high inflation, according to a survey of think tank Japan Center for Economic Research.
Budget deficit may hit P1 7 trillion this year philstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philstar.com Daily Mail and Mail on Sunday newspapers.
Most economists expect inflation to ease for the second consecutive month in March, but are convinced it remained above eight percent or double the higher end of the two to four percent target range of the Bangko Sentral ng Pilipinas.
The Bangko Sentral ng Pilipinas is set to continue its tightening cycle although at a slower pace of 25 basis points on Thursday, with some economists saying this could be the last.
Bank economists are divided on whether the Bangko Sentral ng Pilipinas is going for a softer 25-basis-point interest rate hike or maintain the aggressive 50-basis-point increase this week, as inflation blew past expectations to hit a fresh 14-year high of 8.7 percent in January from 8.1 percent in December.