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WB warns PHL economy is at risk of overheating

GMA News Online logo GMA News Online 4/16/2018 Sollorano, Vic
PHL World Bank Group © Provided by Mediamerge Corporation PHL World Bank Group

The Philippine economy is at risk of overheating should it continue growing at capacity, the World Bank warned on Monday.

“We see the economy growing at capacity—all capital assets and labor ... The labor is used nearly completely,” Birgit Hansl, World Bank lead economist for the Philippines said in a press briefing in Taguig City.

“Even if you would like to produce more, you could not ... This is what we call the risk of overheating,” she said.

An overheating economy occurs when growth is unsustainable, pushing producers to overproduce and keep up with a growing demand. —VDS, GMA News

 

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