“Real GDP growth for 2024 was revised slightly to 6.2 percent from the January WEO forecast of six percent, reflecting carryover from a better-than-expected outturn in the last quarter of 2023,” IMF resident representative Ragnar Gudmundsson said in an email to The STAR.
Inflation in the Philippines is expected to average 3.6 percent this year before easing further to three percent in 2025. Both projections are lower than the six percent full-year inflation in 2023.
Inflation accelerated to 3.7 percent in March from 3.4 percent in February, marking its second straight month of uptick. This prompted the BSP to keep borrowing costs elevated after it raised interest rates by 450 basis points from May 2022 to October 2023.
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Inflation in the Philippines is expected to average 3.6 percent this year before easing further to three percent in 2025. Both projections are lower than the six percent full-year inflation in 2023.
Inflation accelerated to 3.7 percent in March from 3.4 percent in February, marking its second straight month of uptick. This prompted the BSP to keep borrowing costs elevated after it raised interest rates by 450 basis points from May 2022 to October 2023.
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