The International Monetary Fund (IMF) has revised upward its 2026 Philippine economic growth forecast.

In its recent World Economic Outlook (WEO) report, the IMF said it expects the Philippine economy to grow by 5.9 percent next year, slightly higher than its previous projection of 5.8 percent.

For this year, the IMF forecast the country’s gross domestic product to grow by 5.5 percent, which settles within the government’s 5.5 percent to 6.5 percent target.

Earlier this year, the IMF said the Philippine economy remains resilient despite external challenges and heightened policy uncertainty.

“The Philippine economy holds significant potential with a sizable demographic dividend and abundant natural resources. The government has been undertaking reforms to reduce infrastructure, health and education gaps, promote foreign direct investment, and diversify the country’s export markets,” IMF Mission Chief Elif Saxegaard earlier said.

“These reforms should be complemented by strengthening social protection programs, promoting digitalization, and increasing resilience to climate shocks and natural disasters.” (PNA)