Marcos gives cautious economic outlook, cites El Nino, geopolitical risks

January 12, 2024 - 2:22 PM
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Philippine President Ferdinand Marcos Jr. delivers his first State of the Nation Address, in Quezon City, Metro Manila, Philippines, July 25, 2022. (Jam Sta Rosa/Pool via Reuters)

Philippine President Ferdinand Marcos Jr on Friday painted a cautious outlook for his country’s economy given risks stemming from geopolitical tensions and El Nino weather phenomenon.

“While the future looks bright, dark clouds still gather on the horizon, unleashing headwinds that will temper, maybe even damage or trample on our optimistic outlook,” Marcos said in a press conference.

— Reporting by Mikhail Flores; Editing by Martin Petty