BusinessWorld E-paper
September 28, 2022
THE WORLD BANK (WB) upgraded its growth forecast for the Philippines for this year and 2023, citing an “accommodative” fiscal policy conducive to recovering domestic demand despite a hawkish central bank and a pessimistic global economic outlook.
In its East Asia and the Pacific Economic Update report for October released on Tuesday, the Washington-based lender raised the Philippines’ gross domestic product (GDP) outlook to 6.5%, from the 5.7% given in April. This is at the lower end of the government’s 6.5-7.5% goal this year.
