Page 4 - Kevin Chua News Today : Breaking News, Live Updates & Top Stories | Vimarsana

MANILA - The World Bank has upgraded its economic outlook for the Philippines this year to 5.3 percent, higher than its projection in September at 4.3 percent. The World Bank revised its growth upward after observing that the economy grew in the first three quarters of 2021 despite the reimposition of the most stringent community quarantine in late March and early August. "(M)obility restrictions are overtime having less impact on economic activities," World Bank Country Director for Brunei, Malaysia, Philippines, and Thailand Ndiame Diop said in a virtual briefing Tuesday. Diop said in the first three quarters of the year, the Philippine economy grew by 4.9 percent from a 10.1-percent contraction in the same period in 2020. The World Bank's outlook for the country in 2022 and 2023 is higher at 5.8 percent. Economic growth for the next two years will be driven by consumption, infrastructure spending, vaccination, and revival of businesses, he added. However, Diop said a p

Kevin chuaNdiame diopWorld bank countryWorld bank philippinesWorld bankBank country directorThailand ndiame diopBank philippinesManila the world bank has upgraded its economic outlook for philippines this year to 5 3 percentIgher than its projection in september at 4 3 percent the world bank revised growth upward after observing that economy grew first three quarters of 2021 despite reimposition most stringent community quarantine late march and early august quotm obility restrictions are overtime having less impact on economic activitiesUot world bank country director for bruneiNd thailand ndiame diop said ina virtual briefing tuesday in the first three quarters of yearHe philippine economy grew by 4 9 percent froma 10 1 contraction in the same period 2020 world bank 39s outlook for country 2022 and 2023 is higher at 5 8 economic growth next two years will be driven consumptionInfrastructure spendingNd revival of businessesHe added however