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Economy

Philippines face battle to hit growth goal amid global headwinds

Growth last year fell to lowest rate in 3 years on inflation at decade high

The Philippine central bank raised rates in five straight meetings last year in an attempt to stem rising consumer prices. A delayed importation of rice also contributed to higher prices and pulled down growth   © Reuters

MANILA -- Headwinds such as stubborn inflation and the U.S.-China trade war have stacked the odds against the Philippines achieving its growth target of 7%-8% in 2019.

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