IMF lowers Philippines' 2024 GDP growth forecast to 6% from 6.2% in April, forecasts 6.2% growth in 2025.
The International Monetary Fund (IMF) has lowered the Philippines' 2024 GDP growth forecast to 6% from 6.2% estimated in April. The IMF projects a 6.2% growth for 2025, driven by consumer demand. Monetary policy should remain tight to anchor inflation expectations, as geopolitical tension and commodity price volatility pose risks to inflation. The current account deficit is expected to narrow to 2.1% of GDP due to a rise in goods exports and tourism.
June 10, 2024
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