THE PHILIPPINES is poised to become the 27th largest economy in the world by 2037, as gross domestic product (GDP) growth is expected to average 5% over the next 15 years, a report showed.
In its World Economic League Table (WELT) 2023, the Centre for Economics and Business Research (CEBR) said the Philippine GDP is expected to average 5.3% over the next five years.
“Between 2028 and 2037, CEBR forecasts that the average rate of GDP growth will remain relatively high, at a further 5.0% per annum,” the report said.