Debt watcher Standard & Poor’s (S&P) Global Ratings said the Philippines’ economic trend is stable but low income levels, inadequate infrastructure, and a weak regulatory track record remain key constraints to growth.
“The Philippines’ economic trend is stable in our opinion. We expect the country’s strengthening external profile, moderating inflation, and improved external debt position to support the economy,” it said in a newly released report assessing the economy and the banking industry.
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