Economy / Philippines
Macroeconomic Forecast Philippines
August 2008 | Macroeconomic ForecastsDownside risks to our 6.3% growth forecast for 2008 continue to mount after Q108 GDP data revealed a sharp slowdown in activity due to the poor performance of net exports and a decline in government spending for the first time in two years. However, following Manila's official abandonment of its goal of balancing the budget this year, we are expecting government expenditure to resume its growth trend throughout the rest of 2008.
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