The Philippine economy is poised to grow at a much slower pace than government’s target this year due to intensifying global uncertainties, the World Bank said on Wednesday, June 8. Based on World Bank’s Philippine Economic Update June 2022 edition, the Washington-based lender projected that the
The World Bank said the Philippine government’s debt load remains manageable despite recent acceleration amid the prolonged pandemic. Even it has ballooned, Kevin Chua, World Bank senior economist noted that the government’s debts are mostly held by Filipino creditors, long-dated IOUs and peso-d
Washington-based multilateral lender World Bank has retained its economic growth outlook for the Philippines this year, still taking into consideration the impact of the Russia-Ukraine war on the global economy.
The Philippines will likely fail to achieve its economic target for this year due to a weak external environment and inflationary concerns, but its growth rate will still be among the fastest in East Asia and the Pacific.