Fitch Ratings has slashed its 2019 Philippine growth forecast, tagging the delayed approval of the national budget and outside circumstances as reasons for the adjustment.
“Fitch has revised down its GDP (gross domestic product) growth forecast for 2019 to 6.2 percent from 6.6 percent previously, as it expects the recent budget delay and external factors to weigh on growth,” the debt watcher said in a report released on Wednesday.
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