World Bank retains Philippines growth outlook

The multilateral lender’s Philippine Economic Update report showed the country is expected to grow by 5.8 percent this year, unchanged from the forecast the World Bank provided in April.MANILA, Philippines —

This is also lower than the government’s 6.5 to 7.5 percent economic growth target for 2025 and the 6.5 to eight percent growth goal for 2026. He said pro-investment reforms undertaken by the previous government and the current administration like the Public Service Act amendment and the new Public-Private Partnership Code are likewise expected to support the country’s economic growth.

Last month, National Economic and Development Authority Secretary Arsenio Balisacan said the agency is hopeful the country could achieve upper middle-income status toward the latter part of 2025. To support the country’s development priorities, the World Bank also emphasized the need to enhance revenue collection.

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