IMF sees PH to be fastest growing economy in southeast Asia, second fastest in Asia in 2024, 2025

IMF sees PH to be fastest growing economy in southeast Asia, second fastest in Asia in 2024, 2025;  ADB maintains PH economic outlook for 2024, 2025

Transcript

00:00The International Monetary Fund, or IMF, is expecting the country to be the fastest growing

00:05economy in Southeast Asia and second fastest in Asia over the next two years. In its latest

00:11World Economic Outlook report, the IMF maintained its Gross Domestic Product, or GDP, growth

00:16forecast for the country at 6 percent this year and 6.2 percent in 2025. The Asian Development

00:23Bank, or ADB, also kept its economic growth outlook of 6 percent and 6.2 percent for 2024

00:30and next year respectively. On the other hand, ADB slightly raised the 2024 growth forecast

00:37for developing Asia and the Pacific to 5 percent from 4.9 percent, while the 2025 projection

00:44is maintained at 4.9 percent.