Phl growth to average 6% until 2026 - WB

The Philippine economy is expected to post average growth of six percent from this year until 2026 with the expansion to be supported by strong domestic demand, according to the World Bank.

- By LOUELLA DESIDERIO

The multilateral lender's East Asia and the Pacific Economic Update October report released yesterday showed it raised the gross domestic product growth forecast for the Philippines to six percent for this year from the 5.8 percent growth forecast provided last June.

This new forecast is at the low end of the government's six to seven percent growth target for this year.

The World Bank also hiked its growth forecast for the Philippines for 2025 to 6.1 percent from 5.9 percent previously.

While the 2025 growth forecast was revised upward, it is below the 6.5 to 7.5 percent growth goal set by economic managers.

The World Bank's Macro Poverty Outlook report showed the multilateral lender expects the Philippine economy to expand by six percent in 2026.