Typhoons take toll on PHL growth goal

Quick Summary:

The Philippines likely missed its target of growing the economy by 6 percent in 2024 due to multiple typhoons that caused disruptions in the local farm sector and industries.

The DBM estimates that the full-year 2024 disbursements will reach P5.907 billion, up by 10.7 percent year-on-year, exceeding the P5.754 trillion program due to the implementation of priority programs, including those funded under unprogrammed appropriations.

For 2025, the average GDP growth rate forecast reported by Consensus in the December survey is 6 percent while ADB and the IMF expect growth will reach 6.2 and 6.1 percent, respectively.

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Article Details

Author / Journalist: Reine Juvierre S. Alberto and Andrea E. San Juan

Category: BusinessStartups

Markets: Philippines

Topics: 2024 Percent Quarter Government 2025 Dlsu Target Economy Economists Growth Rate

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-19 @ 16:13:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 873 words

Reading Time: 5 minutes read

Sentences: 27 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 25258758

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 50 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 11 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

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Publisher ID: #37

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