MANILA Anchored on more robust domestic activities, the Philippines is poised to grow 5.7 percent in 2022 and 5.6 percent on average in 2023-24 amidst intensifying global uncertainties, according to the Philippines Economic Update (PEU) released tod
The country’s debt level remains manageable, but the government must pursue a fiscal consolidation plan to avoid a further dent on economic growth, the World Bank said.
The Philippines is set for a strong rebound this year as momentum picks up, but economic scarring will likely hamper growth in the coming years and fall below government expectations, the World Bank said.
The Philippine economy is likely to grow faster than previously thought this year, with momentum expected to pick up further next year, but downside risks caused by the coronavirus pandemic persist, the World Bank said on Tuesday.