World Bank projects 6% PH economic growth until 2026

The World Bank projects an average economic growth of 6% for the Philippines from 2024 to 2026, contingent on controlling inflation, adopting supportive monetary policies, and maintaining infrastructure spending.

However, the positive outlook hinges on the country's ability to rein in inflation and navigate global policy uncertainties.

For 2024 specifically, the World Bank forecasts a 5.9% growth, a slight decrease from its previous estimate due to slower third-quarter growth.

The Philippine economy grew by 5.2% in the third quarter, a deceleration from the second quarter, partly due to the effects of several typhoons.

These typhoons affected millions of people, destroyed crops and property, damaged infrastructure, and disrupted economic activity, particularly in tourism and construction.

The World Bank highlighted the Philippines' vulnerability to extreme weather events and stressed the importance of sustained measures to protect poor households.

Economic growth is seen to hit 6.1% in 2025 and 6% in 2026.

A stronger economy will enable the country to sustain progress in poverty reduction.