Global Banks, Research Firms Weigh In On 2024, 2025 Growth Outlooks for the Philippines

The World Bank tempered its 2024 economic outlook for the Philippines while several other economic research firms project the Philippine economy to grow below the government target of 6.5 to 7.5 percent for 2025. Slower third quarter growth due to severe weather informed the World Bank’s downward revisions, while the gains from sustained household consumption and a rebound in tourism for 2025 are tempered by risks from a volatile global economy, limited production output, relatively tight monetary policy, and fiscal concerns. 

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