World Bank raises growth forecast for PH economy


The World Bank revised upward its 2022 growth forecast for the Philippine economy to 6.3 percent from 5.7 percent in April, mainly due to a strong rebound in private-sector consumption/spending and despite concerns of growth deceleration across East Asia and the Pacific (EAP).

In an update of the outlook on the EAP region, the World Bank noted that the global economic slowdown is beginning to dampen demand for the region’s exports of commodities and manufactured goods.

But Aaditya Mattoo, World Bank EAP Chief Economist, said in a press conference that in the Philippines, they observed not only a recovery in both public and private investments, but also a combination of higher domes…

Keep on reading: World Bank raises growth forecast for PH economy



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