THE country's growth prospects for this year and the next 'remain intact' based on Bangko Sentral ng Pilipinas (BSP) estimates.
THE country's growth prospects for this year and the next 'remain intact' based on Bangko Sentral ng Pilipinas estimates.Gross domestic product growth is expected to 'remain robust' in the first half of 2021, decelerate for the rest of the year and then pick up in 2025, highlights of last month's Monetary Board policy meeting showed.
Stubborn inflation and high borrowing costs weighed on last year's GDP growth, which at 5.6 percent was significantly lower than 2022's 7.6 percent and also fell short of the 6.0- to 7.0-percent target.A rebound is expected this year but mounting headwinds have prompted economic managers to trim the 2024 goal to a 'more realistic' 6.0 to 7.0 percent from 6.5 to 7.5 percent.Inflation finally returned to the 2.0- to 4.
Growth Prospects For 2024 2025 'Intact'
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