Economic news
Philippines cuts 2023 GDP growth target to 6.0-7.0%
2022.12.04 23:21
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© Reuters. A vendor rests at a public market in Quezon City, Philippines, August 9, 2022. REUTERS/Eloisa Lopez/Files
MANILA (Reuters) – The Philippines lowered its growth target for 2023 to 6.0%-7.0%, from 6.5%-8.0%, 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.
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