An economy in crisis, Marcos doesn’t have a plan

The Manila Times 30 Aug Philippines

The Philippine economy is sending warning signals that should have forced an emergency meeting of the economic team. Growth slowed to 2.3 percent in the second quarter, the peso weakened into the P62-per-dollar range, the stock market fell below 6,000, investment contracted sharply, foreign direct investment declined, and consumers turned deeply pessimistic. Yet Malacañang acts as if these

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