HIGHER government spending as well as an upturn in external demand are expected to propel Philippine economic growth this year and the next, the Asean+3 Macroeconomic Research Office (AMRO) said on Tuesday.
HIGHER government spending as well as an upturn in external demand are expected to propel Philippine economic growth this year and the next, the Asean+3 Macroeconomic Research Office said on Tuesday.'The Philippine economy is expected to grow by 6.1 percent in 2024 and 6.3 percent in 2025, driven by higher government spending as well as an upturn in external demand and strengthening domestic demand,' AMRO principal economist Runchana Pongsaparn said.
Moreover, a sharp slowdown in major trading partners like the US, euro area and China could challenge the economy.'Heightened geopolitical risks could increase the likelihood of global supply disruptions and further global economic fragmentation,' she added.'The country's long-term potential growth could be constrained by insufficient infrastructure investment, vulnerabilities to climate change and the prolonged scarring effects caused by the Covid-19 pandemic.
Spending External Demand To Drive PH Growth
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Philippine Tour Operators Association all set to unveil exciting destinations at 35th Philippine Travel MartDeals, discounts, discoveries and more at the three-day event. August, Paranaque City - The Philippine Tour Operators Association (PHILTOA) is looking forward to welcoming travelers at the 35th Philippine Travel Mart, happening from Sept. 6 to 8 at the SMX Convention Center in Pasay City.
Read more »
Kultura celebrates timeless elegance of Philippine pearls with Marian RiveraFOR generations, pearls have been cherished as symbols of beauty and elegance. More than that, with the Philippines known as perlas ng silangan, these gifts from the sea represent much of who Filipinos are and the values the country possesses.
Read more »
Philippine Navy conducts test firing of gun systems installed in BRP YurongDefining the News
Read more »
Philippine Paralympics team leaves for Paris GamesLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Philippine agriculture output shrank 3.3% in second quarter of 2024Defining the News
Read more »
PNP to ensure safe arrival of Philippine Olympic teamDefining the News
Read more »