S&P lowers growth forecast to 6.5%

By Mayvelin U. Caraballo

Mar 16, 2022 12:33 am

INTERNATIONAL debt watchdog S&P Global Ratings has lowered its economic growth forecast for the Philippines this year to account for market developments surrounding the Russia-Ukraine conflict.

S&P cut its 7-percent growth outlook for the Philippines' gross domestic product (GDP) by 0.5 percent, citing 'a high degree of uncertainty about the extent, outcome and consequences of the military conflict between Russia and Ukraine.'

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