MANILA -The World Bank now expects better growth prospects for 2023 than it did six months ago, but noted that social protection for poor Filipinos needs to be more efficient as the Philippines remains in the grip of high inflation and other risks occurring here as well as abroad. The multilateral lender said this even as it raised its growth forecast for the Philippine gross domestic product in 2023 to 6 percent from the 5.4-percent forecast in December. In the latest edition of its Philippine Economic Update launched on Wednesday, the World Bank said the upward change in the forecast was driven by domestic consumption and investment.

https://business.inquirer.net/404311/growth-forecast-hiked-as-inflation-risk-lingers

#inquirer