Diversification needed to reduce shocks

By The Manila Times

Feb 17, 2023 12:17 am

Rafael Alfonso Manalili, global markets economist at Bank of the Philippine Islands, said he remained cautiously optimistic about the country's recovery amid progress in consumer spending, remittances and business process outsourcing revenues.

'The long-term prospects of the economy are good overall. We believe that the economy will continue to grow in the coming years at a healthy pace, not only this year, because of our growth drivers,' he added.

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