Philippine Economy Faces Challenges Due to Farm Slump and External Factors

• The Philippine economy is facing a slowdown due to a record farm slump.
• External factors, including the Iran war and bad weather, are contributing to the economic challenges.
• The economic slowdown is raising questions about the central bank's rate-hike cycle.
• President Ferdinand Marcos Jr. is under pressure due to the economic situation.
• The situation threatens to cause more pain for the Philippine economy.