The Philippine economy was more resilient than expected in 2023—current projections indicate that it could again achieve healthy growth in 2024.
These include recovering nonperforming loans, reducing loan loss provisions with an outlook on improved credit status, and the emergence of digital neobanks, which offer higher savings interest rates and faster customer acquisition. Perhaps most crucially, there are growing efforts to make banking ...
The Philippines is one of the countries with significant economic dynamism, due to its high growth rates being among the top in ASEAN and serving as a key driver of the region's economy.Indeed, even while the outlook for the global economy remains sluggish, the International Monetary Fund (IM...
Reports on the improving economy in the Philippines. Increase in stock prices; Appreciation of the peso; Increase in exports and consumer spending; President Fidel Ramos' adoption of an economic reform program initiated by his predecessor Corazon Aquino; Growth of gross national product in the ...
Economy National finances ASEAN country comparisons Digital usage Retail The most important statistics Gross domestic product (GDP) in the Philippines 2029 Gross domestic product (GDP) per capita in the Philippines 2029 Gross domestic product (GDP) growth rate in the Philippines 2029 Philippines: Share...
Employment in the Philippines International Unemployment rate in the Philippines 2023 + Economy Daily minimum wage of agricultural non-plantation workers Philippines 2025, by region + Economy Minimum monthly wage Philippines 2022-2023 + Economy
In his first State of the Nation Address in July 2022, President Ferdinand Marcos Jr. said his administration is looking to bring the Philippines to upper-middle income status by 2024. The country had targeted this milestone prior to the pandemic and is now back on track. Spen...
At the same time, it said the Philippine government is expected to continue to provide firm support to the economy through expedited infrastructure projects and continued strong spending on consumption, particularly in an election year. However, the report warned that the tightening of financial condit...
s a period of adjustment since it’s only been recently that things are as they were before. Many workers have been affected and are now happy to get back to work, so patience and tips are appreciated. At the end of the day, tourism has always played a big part in our economy so ...
McKinsey:What are some areas of stagnation in the Philippines, and what can be done to uplift the Philippine economy? Jaime Ayala:The Philippines overall is doing pretty well, but because of our geography and just because of the way that things work, there are many areas that are getting le...