Based on its April 2024 World Economic Outlook (WEO), the IMF slightly revised its gross domestic product (GDP) growth forecast for the Philippines to 6.2 percent this year.
"Real GDP growth for 2024 was revised slightly to 6.2 percent from the January WEO forecast of six percent, reflecting carryover from a better-than-expected outturn in the last quarter of 2023," IMF resident representative Ragnar Gudmundsson said in an email to The STAR.
The latest IMF forecast would hit the government's six to seven percent goal for this year, penned by economic managers through the Development Budget Coordination Committee. It would also be significantly higher than the 5.5 percent expansion in 2023.
The Philippines is expected to be the fastest growing economy in the region, exceeding Indonesia's five percent, Malaysia's 4.4 percent, Thailand's 2.7 percent and Singapore's 2.1 percent.
Bu hikaye The Philippine Star dergisinin April 17, 2024 sayısından alınmıştır.
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Bu hikaye The Philippine Star dergisinin April 17, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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