Sun Life Investment Management and Trust Corp. has revised its growth outlook for the Philippine economy.
It now projects a 5.6% growth rate for 2024, followed by a more robust 6.2% expansion in 2025.
Economist Patrick Ella noted that achieving a 6% growth rate this year would require a significant acceleration in the current quarter, specifically a 6.5% expansion.
The government’s Development Budget Coordination Committee has also adjusted its growth forecast for 2024, narrowing the range to 6-6.5% from the previous estimate of 6-7%. For the period 2025 to 2028, a wider growth range of 6-8% is projected.
These revisions reflect the evolving economic landscape and the challenges and opportunities facing the Philippine economy.
