The International Monetary Fund expects the world economy to grow 3.2 percent in 2024 and 2025, or at the same pace as in 2023.
It said a slight acceleration for advanced economies—where growth is expected to rise from 1.6 percent in 2023 to 1.7 percent in 2024 and 1.8 percent in 2025—will be offset by a modest slowdown in emerging market and developing economies from 4.3 percent in 2023 to 4.2 percent in both 2024 and 2025.
The IMF expects growth in the Philippines to be faster at 6.2 percent in 2024 and 2025. The country is also expected to grow by up to 6.4 percent by 2029.
The IMF predicted that inflation rate in the Philippines to ease from 6.0 percent in 2023 to 3.6 percent in 2024 and 3.0 percent in 2025. The current account deficit is also projected to go down from 2.6 percent of GDP in 2023 to 2.2 percent in 2024 and 1.6 percent in 2025
Unemployment rate is seen steady 5.1 percent in 2024 and 5.2 percent in 2025.
