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Mar 7, 2024 · Focusing on factors that could unlock growth in its seven critical sectors and themes, while adapting to the macro-economic scenario that plays out, would allow the Philippines to materialize its growth potential in 2024 and take steps towards achieving longer-term, sustainable economic growth.
Jan 26, 2023 · The Philippines has recorded its strongest economic growth in more than 40 years, defying a global slowdown and rising inflation after lifting all pandemic restrictions at the end of last...
- Mercedes Ruehl
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The Philippine economy outperformed its regional peers, growing by 6.4 percent in the first quarter of 2023. Robust domestic demand fueled growth, countering weaker global demand in the first quarter of 2023.
Jun 8, 2022 · MANILA, June 8, 2022 —Anchored on more robust domestic activities, the Philippines is poised to grow 5.7 percent in 2022 and 5.6 percent on average in 2023-24 amidst intensifying global uncertainties, according to the Philippines Economic Update (PEU) released today by the World Bank.
The Philippine economy, as measured by the gross domestic product (GDP), contracted by 8.3 percent in the fourth quarter of 2020 from a growth of 6.7 percent in the same period in 2019. For the whole of 2020, GDP shrank by 9.5 percent from an expansion of 6.0 percent in 2019 (Figure 1).
The Philippines is one of the fastest-growing economies of the past decade, averaging 6.4% growth per year in 2010-19. Indeed, an expanding and youthful population, combined with reforms and an ambitious infrastructure programme, have made it an enticing investment destination.
The Philippines Economic Update summarizes key economic and social developments, important policy changes, and the evolution of external conditions over the past six months. It also presents findings from recent World Bank analysis, situating them in the context of the country’s long-term development trends and assessing their implications ...
