The World Bank projects Philippine growth of 5.2% in 2027 and 5.5% in 2028, after a slowdown to an expected 3.7% this year. Recovery hinges on public investment picking up from the fourth quarter, which could restore business and household confidence and draw in private investment. Growth reached 2.6% in the first half, while inflation rose to 7.2% in September from 6.1% in August, ending four straight months of easing and staying above the BSP's 3% target; the World Bank expects 5.8% average inflation this year. Key risks include energy price shocks, climate disruptions worse than expected from a potentially record El Niño (already affecting 223,214 farmers in 14 regions, with P6.87 billion in agricultural damage as of September 26), and weaker-than-expected investment.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Oil shocks , El Niño may threaten Philippine economic recovery in 2027 World Bank
Read the original on bworldonline.com ↗
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