PH a ‘clear-cut loser’ if oil prices keep rising

THE Philippines will be among the “clear-cut losers” if global oil prices continue to increase this year, Japan’s Nomura said, with the impact to be felt in the country’s trade and current account balances as well as inflation.

In a report titled “Higher oil prices drive EM divergence,” Nomura said it assessed the potential impact of sustained and higher oil prices on 26 emerging market economies including the Philippines.