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“Standard and Poor’s Global Intelligence believes the Philippines is on track to become a US$1 trillion economy by 2033”
With the Philippine economy more resilient than expected in 2023, current projections indicate that it could again achieve healthy growth this year of between 5 and 6 percent. Energy and power: The outlook for the energy sector looks positive, with the potential to grow by 7 percent in 2024 as the country focuses on renewable energy generation.
Consumer and retail: Growth in the retail and wholesale trade and consumer goods sectors is projected to remain stable in 2024, at 4 percent and 5 percent, respectively. Information technology/business process outsourcing: The information technology business process outsourcing sector is on track to reach its long-term targets, with $38 billion in forecast revenues in 2024.But how sustainable is this growth?
Philippines Latest News, Philippines Headlines
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