WB sees 4.9% growth amid Russia-Ukraine crisis

By Mayvelin U. Caraballo

Apr 06, 2022 12:43 am

THE World Bank said if the Russia-Ukraine crisis continues, Philippine economic growth might slow down to as low as 4.9 percent, trapping 6 million more people in poverty this year.

Aaditya Mattoo, World Bank's East Asia and Pacific chief economist, said in a virtual briefing that the Washington-based multilateral lender has lowered its 5.8-percent growth forecast for the Philippines' gross domestic product (GDP) to 5.7 percent, with a lower case of 4.9 percent.

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