World Bank keeps 5.7% PH growth outlook

THE World Bank continues to forecast a lower-than-expected economic growth for the Philippines this year as it cites multiple concerns notwithstanding strong domestic activity.

In the latest edition to its Philippines Economic Update, the Washington-based lender maintained its 5.7-percent gross domestic product (GDP) growth outlook for 2022, which matched last year's rate. Its projection also fell short of the government's 7- to 8-percent adjusted GDP growth target this year.