Phl to grow below target in 2024, 2025 - think tank

Philippine economic growth may fall below target this year and the next despite easing inflation and interest rates, according to think tank Capital Economics.

- LOUELLA DESIDERIO

In a report, Capital Economics said the Philippines may grow by 5.1 percent this year, lower than the government's six to seven percent goal.

In the second quarter, the economy grew by 6.3 percent, faster than the 4.3-percent expansion in the same quarter last year and the revised 5.8-percent growth in the first quarter.

This brought the average growth in the first semester to six percent, within the government's target for the year.

For 2025, the think tank expects the gross domestic product (GDP) growth to be at 5.5 percent, also lower than the government's growth goal of 6.5 to 7.5 percent.