No recession in RP, BSP says

Gov’t managers pin hopes on remittances, BPO.

MANILA, Philippines – Amid persistent conerns that the Philippines is headed for a slump this year—fueled by the surprisingly disappointing growth in the first quarter—the Bangko Sentral ng Pilipinas stressed that the economy would not slide into a recession.

“There will be no recession,” BSP Governor Amando Tetangco Jr. said Friday when asked if the Philippines would follow the lead of its neighboring economies that had already contracted.

Read more…

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>