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Does the Philippines have a strong economy?
Recent economic data shows that the Philippines economy has continued to show robust expansion, with GDP growth of 5.9% year-over-year (y/y) in the third quarter of 2023.

Philippines economy shows robust growth into the new year

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How is the Philippines doing to boost economic growth?
The Philippine government pursues larger investments in both human and physical capital to boost inclusive growth over the medium and long term. The Philippines’ economic recovery is well underway, as remained robust at 5.6 percent in 2023, which is among the top growth performers in the region.

Philippines Overview: Development news, research, data | World Bank

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Why did the Philippine economy grow 5.6 percent in Q4 2023?
In the fourth quarter of 2023, the Philippine economy grew by 5.6 percent due to stronger domestic demand despite an elevated inflation rate and external challenges.

PH’s full-year 2023 GDP growth strongest among major Asian economies

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How has the Philippine economy performed in 2021?
IT-BPO exports have risen from USD 9.5 billion in 2010 to USD 25.1 billion by 2021, according to BSP estimates. The Philippines economy has recorded a third successive year of strong economic growth in 2023, after GDP growth for calendar 2021 rebounded to 5.6% y/y and strong growth momentum continued in 2022 at a pace of over 7.6% y/y.

Philippines economy shows robust growth into the new year

www.spglobal.com/marketintelligence/en/mi/research-analysis/philippines-economy-shows-robust-growth-into-the-new-year.html
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What is the economic outlook for the Philippines?
The upbeat outlook of the Philippines and many of its regional emerging market neighbours including Indonesia and Malaysia contrasts sharply with that of developed nations. Philippine president Ferdinand Marcos Jr, who attended the World Economic Forum in Davos last week, predicted the economy would keep growing at near 7 per cent this year.

Philippines records strongest economic growth in more than 40 years

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Will Philippine economy keep growing at 7 per cent this year?
Philippine president Ferdinand Marcos Jr, who attended the World Economic Forum in Davos last week, predicted the economy would keep growing at near 7 per cent this year. US and European central bankers speaking at the conference instead vowed to “stay the course” on interest rate increases to cool down their economies and tame high inflation.

Philippines records strongest economic growth in more than 40 years

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www.mckinsey.com › ph › our-insightsThe Philippines economy in 2024 | McKinsey

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Mar 7, 2024 · The state of the Philippine economy across seven major sectors and themes. In the article, we explore the 2024 outlook for seven key sectors and themes, what may affect each of them in the coming year, and what could potentially unlock continued growth.
www.ft.com › content › bae5919d-f8eb-4b40-87b4-9f8ePhilippines records strongest economic growth in more than 40 ...

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Jan 26, 2023 · The Philippines has recorded its strongest economic growth in more than 40 years, defying a global slowdown and rising inflation after lifting all pandemic restrictions at the end of last...
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www.worldbank.org › en › countryPhilippines Overview: Development news, research, data ...

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Oct 16, 2024 · Domestic growth is strong in the Philippines, while global challenges are affecting prospects. The Philippine government is implementing its 8-point socioeconomic agenda and the Philippine Development Plan 2023-2028 to ensure inclusive, resilient, and sustainable growth for a prosperous society.
www.dof.gov.ph › phs-full-year-2023-gdp-growthPH’s full-year 2023 GDP growth strongest among major Asian ...

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Jan 31, 2024 · The Philippines finished strong in 2023 with a full-year gross domestic product (GDP) growth rate of 5.6 percent, outpacing major economies in Asia, such as China (5.2 percent), Vietnam (5.0 percent), and Malaysia (3.8 percent) based on the latest available data.
www.worldbank.org › en › newsINFOGRAPHIC: Philippines Economic Update June 2024

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Jun 4, 2024 · The Philippines sustained its growth momentum in Q1 2024, supported by an improvement in global economic activity. Growth will increase to an average of 5.9 percent between 2024-2026, anchored on strong domestic demand and a pickup in global growth.
www.spglobal.com › marketintelligence › enPhilippines economy shows robust growth into the new year

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Dec 22, 2023 · The Philippines economy has continued to show strong recovery from the COVID-19 pandemic during 2023, with GDP growth strengthening to a pace of 5.9% y/y in the third quarter of 2023, compared with GDP growth of 4.3% y/y in the second quarter of 2023.
www.mckinsey.com › ph › our-insightsThe Philippines’ economy in 2023 | McKinsey

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Mar 7, 2023 · Looking ahead into 2023, the economic forecast for the Philippines remains a moving target. After a record 10 percent contraction in 2020, the country may bounce back in 2023 with projected growth of around 5.3 percent, though it will hardly rise above preCOVID-19 levels (exhibit).