ING Bank sees lower 5.3% PH growth

By Mayvelin U. Caraballo

Feb 05, 2022 12:24 am

ING Bank's local unit said the Philippines' economic growth may disappoint and fall short of the government's target this year on the back of certain developments that could dampen expectations.

'We remain optimistic about the growth outlook for the Philippines, but we believe GDP (gross domestic product) growth may ultimately fall below expectations and settle at 5.3 percent for the year,' ING Bank Manila senior economist Nicholas Antonio Mapa said in a report on Friday.

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