The performance of the Philippine economy will be below its historical average this year and next year, as GDP growth will not even reach 5 percent in 2023 and 2024, according to a UK-based think tank.
THE performance of the Philippine economy will be below its historical average this year and next year, as GDP growth will not even reach 5 percent in 2023 and 2024, according to a UK-based think tank.
“Although the downturn looks likely to be mild, the subsequent recovery may underwhelm. Demand will be challenged by potentially sticky inflation, overtightening in core central banks, and scarring to potential GDP,” Oxford Economics said. While the outlook of Oxford Economics for these economies in 2024 is the same as the IMF forecast, the 2023 expectation is 0.8 percentage point less than IMF’s 4 percent projection.
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.
Romualdez: PDP 2023-2028 key to PH poverty reductionThe effective implementation of the latest five-year economic development plan crafted by the administration is the key to poverty reduction
Read more »
RESULTS: February 2023 Respiratory Therapists Licensure ExaminationCONGRATULATIONS! 🎉 PRESS RELEASE: The Professional Regulation Commission announces that 955 out of 1,345 passed the February 2023 Respiratory Therapists Licensure Examination.
Read more »
Miss Global Shane Tormes excited for 2023 pageant in VietnamMANILA, Philippines—Shane Tormes gave the Philippines its first Miss Global victory last year, and yet the veteran beauty queen cannot wait to give up her international crown. However, it does not
Read more »
Lamentillo, Llamanzares among Rising Tigers’ People to Watch in 2023Department of Information and Communications Technology (DICT) Undersecretary Anna Mae Yu Lamentillo is among Rising Tigers Magazine’s People to Watch 2023. The award recognizes emerging
Read more »
MediaTek shares how are they driving Key Tech Trends from CES 2023
Read more »
National Arts Month 2023 celebration banners PH artistic excellenceReading through the proclamation, it is heartwarming to note that the national government enjoins the people to remember the month of February in their hearts and minds as the time for nationalism and pride in being Filipino.
Read more »