The Philippine economy is expected to post slower growth this year, with the Organization for Economic Cooperation and Development (OECD) forecasting a 3.2% expansion, according to a report by Philstar Biz .
The OECD cited high inflation as a key factor likely to dampen consumer spending, which has traditionally been a major driver of the country's economic growth. The forecast represents a moderation from previous years, reflecting global headwinds and domestic price pressures.
The report underscores challenges facing the Philippine economy as it navigates elevated inflation and external uncertainties. Policymakers are expected to monitor the situation closely, balancing growth support with inflation control measures.