06 month212024
The Philippine economy will grow by 6% in 2024
International Monetary Fund (IMF) officials say the Philippine economy is performing well despite external challenges and tighter monetary policy, and expect growth to accelerate this year.
Imf mission chief Elif Arbatli Saxegaard told a briefing at the Central Bank of the Philippines office in Manila that Philippine economic growth is expected to reach 6 percent this year from 5.5 percent in 2023.
"Growth is expected to rebound to 6 percent in 2024 and 6.2 percent in 2025, driven by stronger consumer demand, increased public and private investment, and a recovery in exports," Saxegaard said.