(MENAFN) The Philippine Department of Trade and Industry (DTI) said that the economic growth in 2014 is expected to be slower than last year"s, Xinhua reported
The department said that the slower growth forecasts are due to the depreciation of the peso which could add pressure on prices
The country"s Trade Secretary said that the gross domestic product may expand by 6.5 percent this year, slower than 7.2 percent logged in 2013
He said: "The GDP number is inflation-adjusted. There will be slight softening of growth due to a forecast of higher inflation.
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