AMRO bullish on PH economy,predicts 6.1% expansion in 2024

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The ASEAN+3 Macroeconomic Research Office expressed optimism about the Philippine economy’s performance, predicting a 6.1 percent gross domestic product growth in 2024. This growth is expected to continue into 2025, reaching 6.3 percent.

Pongsaparn said private consumption is anticipated to accelerate due to a strong labor market, lower inflation, and robust overseas remittances. With the easing of monetary policy, private investment sentiment is expected to improve. It noted that in the first half of 2024, the Philippine economy grew 6.0 percent, fueled by strong domestic demand and export recovery. The labor market remained robust, boosting domestic consumption. Inflation continued its downward trend, reflecting a moderation in international commodity prices, government inflation-control measures, and tight monetary policy.

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MlaStandard /  🏆 20. in PH

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