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IMF: Phl growth fastest in Asean, 2nd in Asia
The Philippine Star
|July 17, 2024
The Philippines is expected to be the fastest growing economy in Southeast Asia and second fastest in Asia over the next two years, according to the latest World Economic Outlook released by the International Monetary Fund (IMF).
Based on the latest economic outlook update, the IMF maintained its six percent gross domestic product (GDP) growth forecast for the Philippines this year.
If realized, the country’s economic growth would be the fastest among members of the Association of Southeast Asian Nations (ASEAN) and the second-fastest among selected Asian economies, following India’s seven percent.
The Philippines is projected to surpass China (five percent), Indonesia (five percent), Malaysia (4.4 percent), Kazakhstan (3.5 percent) and Iran (3.3 percent) in terms of GDP growth this year.
This story is from the July 17, 2024 edition of The Philippine Star.
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