India, Aug. 7 -- The Philippine economy grew at the weakest pace since early 2021 as the war in the Middle-east and corruption scandals weighed on investment and spending, official data showed Friday.
Gross domestic product expanded 2.3 percent year-on-year in the second quarter, marking the slowest rate since the first quarter of 2021, the Philippine Statistics Authority said.
This followed first quarter's 2.8 percent expansion. Economists had forecast the growth rate to improve to 3.0 percent.
For comments and feedback contact: editorial@rttnews.com
Published by HT Digital Content Services with permission from RTT News....