The Philippines, along with Vietnam, is expected to grow fastest among Southeast Asian economies next year even as the bloc’s expansion will slow down, according to Moody’s Analytics.
The research firm said in a report the Asia-Pacific economy was slowing as trade slows and China struggles amid stubborn inflation.
Even so, a recession across the Asia-Pacific region is not expected in 2023 even as anticipated slower growth in Europe and North America will become a drag to the region’s growth.
“The Philippines will feel the lagged effect of post-pandemic reopening as it had the longest continuous lockdowns of any country in the region,” Moody’s Analytics said.
“Thus, pent-up de…
Keep on reading: PH to lead SE Asia growth in 2023, says Moody’s