The World Bank Group is keeping the 6.4 percent gross domestic product (GDP) growth it had forecast for the Philippines this year, citing public-private partnership projects and strong domestic consumption as main drivers for expansion.
WB’s projections and views are in its new Global Economic Prospects report launched this month.
The bank’s projection is below the Philippine government’s 6.8 to 7.8 target but much higher than the 5.8 percent growth in 2015.
“In the Philippines, growth is projected to firm to 6.4 percent in 2016, with an accelerated implementation of public-private partnership projects and strong domestic demand,” it said. MAYVELIN U. CARABALLO