High prices: People shopping for vegetables in the Philippines. Officials are aiming for inflation to range between 2% and 4% by the end of the year. — Bloomberg
MANILA: Finance Secretary Ralph Recto says it is possible that the Philippine economy will grow below 6% in the first quarter of 2024 due to unfavourable base effects and stubbornly high inflation that may have crimped consumption.
Speaking to reporters earlier, Recto pegged the January to March economic growth at between 5.8% and 6.3 %.
