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IMF hikes growth forecast for PHL
The International Monetary Fund (IMF) has upgraded its Philippine growth forecast for 2024 to 6.2 percent, an increase from its earlier projection of six percent.
This upward revision is attributed to the lingering economic strength from the final quarter of 2023.
For 2025, the IMF anticipates the Philippines' GDP to grow by 6.2 percent, exceeding its January forecast.
Furthermore, the IMF projects that Philippine inflation will decrease to below four percent in both 2024 and 2025, falling within the government's target range.
The IMF's 2024 GDP outlook aligns with the Marcos administration's target, although the 2025 projection falls slightly short of the government's goal.
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