Nomura cuts 2022 PH forecast

By Anna Leah E. Gonzales

Mar 15, 2022 12:18 am

JAPAN'S Nomura Holdings Inc. has trimmed its Philippine growth forecast for this year to 6.3 percent from 6.8 percent, pointing to fallout from Russia's ongoing invasion of Ukraine.

'We cut our GDP (gross domestic product) growth forecast... further below the government's range of 7 [to] 9 percent,' Nomura economists Euben Paracuelles and Rangga Cipta said in a report released over the weekend.

Pump prices have risen weekly for three months straight, spiking last week by nearly P6 per liter for diesel with a more than double P13 per liter expected this week. Photo by: J. Gerard Seguia

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