The Asian Development Bank (ADB) has slightly adjusted its economic growth forecast for the Philippines in 2024, revising it down to 6% from the previous estimate of 6.2%.
However, the outlook remains positive, with the country projected to be the fastest-growing economy in Southeast Asia this year and next.
Despite the downward revision, the 6% growth projection for 2024 is still higher than the actual 5.6% achieved in 2023. The Philippines is expected to outperform the government’s target of 6.5% to 7.5%.
The ADB highlighted robust domestic demand, fueled by rising public…
