PH economy seen to grow 6% this year

The Philippine economy is projected to grow by 6% this year, according to GlobalSource Partners, Inc., higher than their previous forecast of 5.5%.

While this projection is lower than the government's target of 7-9%, it reflects optimism based on expanding vaccination coverage and less severe illness from COVID-19 infections.

Malacañang welcomed a recent IHS Markit report predicting that the Philippines will become one of Asia's trillion-dollar economies by 2033, driven by private consumption and government infrastructure investments.

Acting presidential spokesperson Karlo Nograles expressed optimism about the country’s economic recovery despite pandemic challenges.