‘Rice tariff cut could boost growth with more spending’

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‘Rice tariff cut could boost growth with more spending’ - Business Mirror

Quick Summary:

THE reduction of rice tariffs could have a net positive effect on the country’s economic growth by boosting household consumption, according to an economist from HSBC.

It can be noted that GDP growth in the second quarter of last year only reached 4.3 percent, the lowest since the first quarter of 2021, when the economy contracted by 3.8 percent.

Dacanay added that HSBC has not yet revised its full-year GDP growth forecasts for the Philippines since it is waiting for the implementation of the rice tariff cuts.