Philippine President Ferdinand Marcos Jr. is facing the country’s worst economic crisis since the pandemic as the energy shock unleashed by the Iran war hollows out consumer spending and fans inflation in a major Southeast Asian economy.
Philippine President Ferdinand Marcos Jr. is facing the country’s worst economic crisis since the pandemic as the energy shock unleashed by the Iran war hollows out consumer spending and fans inflation in a major Southeast Asian economy.
A street vendor stands under a shelter during rain at Quiapo Market in Manila, the Philippines, on Wednesday, Sept. 4, 2024. Philippine inflation eased to the slowest in seven months in August and returned to the central bank’s target, increasing policymakers’ scope to sustain the rate-cut cycle. Photographer: Geric Cruz/Bloomberg
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