Philippines cuts 2023 GDP growth target to 6.0-7.0%
A vendor rests at a public market in Quezon City, Philippines, August 9, 2022. REUTERS/Eloisa Lopez/Files
MANILA : The Philippines lowered its growth target for 2023 to 6.0 per cent-7.0 per cent, from 6.5 per cent-8.0 per cent, a government inter-agency panel said on Monday.
The government revised its foreign exchange rate assumptions for 2022-2024. It now expects the peso to trade against the dollar at 54-55 in 2022, 55-59 in 2023, and 53-57 in 2024.
Source: Reuters
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