The World Bank said Tuesday it remains optimistic about the Philippine economy, keeping its forecast of 5.9 percent average annual growth from 2024 to 2026.
It projected an economic growth of 5.8 percent for the Philippines this year, lower than the government’s target range of 6 percent to 7 percent.“The positive outlook over the medium-term hinges on containing inflation and transitioning toward a more accommodative monetary policy, which will support private domestic demand,” the World Bank said.
The World Bank said the risks to the growth outlook for the Philippines remain tilted to the downside. “Externally, risks stem from heightened geopolitical tensions, further fragmentation in global trade policy, and weaker-than-expected growth in China. An intensification of geopolitical tensions could lead to higher energy prices, which would reduce households’ disposable incomes,” it said.
“The threat of persistently high inflation could lead to a reduction in private consumption growth. In addition, it could lead to further delays in monetary policy normalization, dampening growth prospects,” it said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MlaStandard - 🏆 20. / 55 Read more »
Source: MlaStandard - 🏆 20. / 55 Read more »
Source: MlaStandard - 🏆 20. / 55 Read more »
Source: MlaStandard - 🏆 20. / 55 Read more »
Source: MlaStandard - 🏆 20. / 55 Read more »
Source: MlaStandard - 🏆 20. / 55 Read more »