The World Bank has revised down its growth forecast for the Philippines this year.
The global lender now expects the Philippine economy to grow at a slower pace of 5.9% in 2024, down from its previous estimate of 6%.
Despite this downward revision, the World Bank remains optimistic about the country’s long-term economic prospects, forecasting 6.1% growth in 2025 and 6% in 2026.
To maintain this positive trajectory, the World Bank recommends that the Philippines prioritize inflation control, adopt supportive monetary policies, and continue investing in infrastructure, all while navigating global economic uncertainties.
