World Bank maintains GDP growth forecast for Philippines to 5.8 pct in 2024

MANILA, June 4 (Xinhua) -- The Philippine economy will accelerate to 5.8 percent this year, and to 5.9 percent in 2025, according to a forecast report released by the World Bank on Tuesday.

Growth is expected to be driven by strong household consumption, sustained strength in the services sector, and improved trade stemming from a rebound in global demand for goods and the continued recovery of services, the Wor