World Bank revises Philippine 2024 growth higher to 6%
The World Bank revised higher the Philippines'growth outlook for this year to 6 percent as headline inflation dropped to a four-year low of 1.9 percent in September.
In its East Asia and Pacific Economic update, the World Bank raised its GDP growth forecast for 2024 from 5.8 percent last April.
The adjusted growth forecast of the World Bank for this year is within the Philippines' 2024 growth target of 6 to 7 percent.
The Department of Finance recently reported that September inflation of 1.9 percent dropped to a four-year low from 3.3 percent in August.
Based on the outlook of the Bangko Sentral ng Pilipinas (BSP), the headline inflation will continue trending downward over the succeeding quarters.
The World Bank's Philippine economic growth outlook for 2025 was also adjusted from 5.9 percent to 6.1 percent. Robina Asido/DMS
