World Bank retains Phl growth forecasts

The World Bank has maintained its growth forecasts for the Philippines for this year and the next, despite spillovers from the Middle East conflict.

- By LOUELLA DESIDERIO

In its June 2026 Global Economic Prospects report, the World Bank said the Philippine economy may grow by 3.7 percent this year, unchanged from the forecast it provided in April.

However, the latest growth forecast is lower than the 4.4 percent expansion posted last year. It is also below the government's five to six percent growth target for this year.

The World Bank also retained its 2027 GDP growth forecast for the Philippines at 5.6 percent. This is within the government's 5.5 to 6.5 percent growth target for next year.

For 2028, the World Bank expects the Philippines to also grow by 5.6 percent, below the government's six to seven percent growth target.

The economy grew by 2.8 percent in the first quarter, the weakest in five years.

The World Bank said it expects a recovery in public investment in the Philippines.