The International Monetary Fund has lowered its growth forecast for the Philippines this year due to the slower than expected growth in the first quarter.
At a press briefing following the IMF’s staff visit to the Philippines, which was conducted from June 4 to 10, IMF mission chief to the Philippines Elif Arbatli Saxegaard said the multilateral lender lowered its growth outlook for the country this year to six percent from the 6.2 percent forecast it gave in its April World Economic Outlook.
“We expect growth to pick up in 2025. The drivers are similar continued pickup in domestic demand, investment and consumption,” Saxegaard said. The projection is lower than the six percent full-year inflation in 2023. It is also below the 3.8 percent risk-adjusted forecast of the Bangko Sentral ng Pilipinas for this year.
However, she said risks to inflation remain on the upside amid geopolitical tensions and volatility in commodity prices. UN Special Advocate, Queen of Netherlands commends GCash for helping advance financial inclusion in PhilippinesBDO, SM launch Kabayan Tuesday para sa overseas Filipino families with Piolo PascualSaavedra-led Citicore Renewable Energy Corp. plans to tap the green bond market next year, stepping on the gas to become...
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