Low inflation, new budget to pump up economy, says DOFMANILA, Philippines — The continued downtrend in inflation, as well as the passage of the 2019 national budget last April are seen to propel the country’s economic growth for the rest of the year, according to the Department of Finance. Beltran attributed the slowdown in inflation to the lower food and oil prices in June. “The streamlining of food supply continues to drive down food inflation. However, economic managers expect economic growth to rebound in the second quarter, especially with the enactment of the 2019 General Appropriations Act in April. In addition, the DOF earlier said the slowdown in inflation is seen to boost consumption spending, which will therefore contribute to growth.

Source: Philippine Star July 05, 2019 15:56 UTC