ADB keeps Philippine growth forecast at 6 percent | ABS-CBN
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ADB keeps Philippine growth forecast at 6 percent
ADB keeps Philippine growth forecast at 6 percent
Benise Balaoing,
ABS-CBN News
Published Jul 17, 2024 10:08 AM PHT
|
Updated Jul 17, 2024 01:04 PM PHT
The Makati-Taguig skyline in this photo taken on April 12, 2024. Gigie Cruz, ABS-CBN News
The Makati-Taguig skyline in this photo taken on April 12, 2024. Gigie Cruz, ABS-CBN NewsMANILA -- The Asian Development Bank (ADB) kept its growth forecast for the Philippines at 6 percent.
MANILA -- The Asian Development Bank (ADB) kept its growth forecast for the Philippines at 6 percent.
In its latest Asian Development Outlook, the ADB said moderating
inflation and expected monetary easing in the second half of
2024 would support household consumption and investment.
In its latest Asian Development Outlook, the ADB said moderating inflation and expected monetary easing in the second half of 2024 would support household consumption and investment.
It sees the Philippine economy growing 6.2 percent in 2025.
It sees the Philippine economy growing 6.2 percent in 2025.
The multilateral lender said it expected inflation to be at 3.8 percent in 2024 and 3.4 percent next year.
The multilateral lender said it expected inflation to be at 3.8 percent in 2024 and 3.4 percent next year.
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The Philippine economy grew 5.7 percent in the first quarter of 2024, supported by household spending growing by 4.6 percent.
The Philippine economy grew 5.7 percent in the first quarter of 2024, supported by household spending growing by 4.6 percent.
Inflation, meanwhile, eased to 3.7 percent in June.
Inflation, meanwhile, eased to 3.7 percent in June.
Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona has said that the central bank may cut key policy rates by August, as the balance of risks to the inflation shifted to the downside.
Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona has said that the central bank may cut key policy rates by August, as the balance of risks to the inflation shifted to the downside.
ADS said it expected growth in developing Asia and the Pacific to reach 5 percent--up from its earlier outlook of 4.9 percent--as growing regional exports complemented resilient domestic demand.
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