World Bank revises 2013 GDP target to 7%, 2014 to 6.7%

The World Bank revised its forecast for the Philippine gross domestic product (GDP), posting higher forecast for the end of the year with 7 percent, and for next year with 6.7 percent projection, according to East Asia and Pacific Economic Update report.

According to the World Bank report, the Philippine growth projections was seen upward: from the previous 6.2-percent to 7 percent for the 2013 GDP growth, and 6.7 percent from the earlier 6.4-percent projection for 2014.