LONDON-BASED information provider IHS Markit said the Philippines is on track to become a $1-trillion economy by 2033, joining a select group of Asia-Pacific (APAC) countries.

The Philippine economy is expected to continue to grow rapidly over the next decade, Rajiv Biswas, IHS Markit chief economist for Asia Pacific, emphasized in a report released on Friday, with total gross domestic product (GDP) increasing from $360 billion in 2020 to $810 billion in 2030.

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