MANILA, Philippines — Despite global economic challenges, the Philippine economy is expected to expand at a faster pace this year than in 2023, according to state think tank Philippine Institute for Development Studies (PIDS).

“GDP (gross domestic product) will likely grow between 5.5 to six percent in 2024,” PIDS research fellow Margarita Debuque-Gonzales along with research analysts Mark Gerald Ruiz and Ramona Maria Miral said in a study titled, “Macroeconomic Outlook of the Philippines in 2023-2024: Prospects and Perils.”

This year’s growth forecast is higher than the authors’ projected 5.2 percent growth in 2023.

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https://www.philstar.com/business/2024/01/17/2326268/philippines-grow-faster-pace-year-pids