THE WORLD BANK is confident the Philippine economy will continue to perform well this year and in 2025, as easing interest rates will likely boost domestic consumption.
“We are confident, we’re relatively confident that the economy will continue performing well,” Gonzalo J. Varela, World Bank lead economist and program leader of the equitable growth, finance and institutions practice group for Brunei, Malaysia, the Philippines, and Thailand, told reporters on Tuesday.
The World Bank expects the country to grow by an average of 5.9% from this year until 2026. It projects Philippine GDP growth at 5.8% in 2024.
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