Analysis by Region - Emerging Markets - Philippines

Analysis by Region - Emerging Markets - Philippines

For now, we've kept our Philippines GDP growth forecast at 3.9% for 2023 and 4.7% for 2024. But particularly in the short-term, risks are to the upside as we've upgraded our 2023 growth forecast for China to 5.5%, from 4.5% a month ago. Still, we don’t think this will boost the Philippines economy substantially, as the recovery in China will be led by domestic services, the sectors hit hardest by its zero-Covid policy.

Philippines: China Growth upgrade not a huge plus for the Philippines
Forecast overview
Recent developments
Short-term outlook
Key drivers of our Short-term Forecast
Economic risk
Economic risk evaluation
risk warnings
What to watch out for
Exposure to Key global risks
Long-term prospects
Economic development
Structure of the economy
balance of payments and Structure of trade

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