The Philippines economy has emerged strongly from the pandemic but has since confronted a confluence of global shocks. Following a slowdown in the second quarter of 2023, economic growth is projected to bounce back to 5.3 percent in 2023 and to 6.0 percent in 2024.
ADB’s Asian Development Outlook (ADO) September 2023 forecasts the Philippine economy to grow by 5.7% this year compared to the 6.0% projection in the April report. The 2024 gross domestic product (GDP) forecast is maintained at 6.2%, with household consumption and public spending on infrastructure and social services seen contributing to the economy’s expansion.
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00:35 - Philippines Economic Forecast in 2023, 2024
01:04 - Ongoing construction of LRT-1 Cavite Extension Project
01:12 - Baclaran Station (under construction)
01:17 - Aseana City, Parañaque
02:23 - City of Dreams
03:55 - Diosdado Macapagal Blvd
05:21 - J.W. Diokno Blvd
05:40 - Mall of Asia Arena
06:35 - IKEA
07:00 - Mall of Asia
07:49 - MOA Globe
12:35 - EDSA Extension
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