Thailand – Page 2 – Author Carlo Carrasco

P7-billion redevelopment and expansion of SM Megamall pushing through

August 19, 2025August 12, 2025carlocarrasco

When was the last time you visited SM Megamall here in the Philippines? I was there a few months ago and it still has that same long rectangular structure with lots of stores, restaurants and service providers occupying spaces. It has been 33 years since my first-ever visit at SM Megamall. That being said, SM Megamall is up for major changes as a P7-billion redevelopment and expansion plan for it has been approved with a competition target between 2027 and 2029, according to a Manila Bulletin business news report.

To put things in perspective, posted below is an excerpt from the news report of the Manila Bulletin. Some parts in boldface…

SM Prime Holdings Inc. (SM Prime), the Sy family’s property development company, is investing ₱7 billion to redevelop and further expand SM Megamall, one of the Philippines’ most iconic malls, with phased completion targeted between 2027 and 2029.

In a disclosure to the Philippine Stock Exchange (PSE), the firm said the project is designed to elevate the customer experience while embedding long-term sustainability measures across the property.

Designed by United Kingdom (UK)-based architectural firm Benoy—known for developments like Jewel Changi in Singapore and Icon Siam in Thailand—the new SM Megamall will adopt a “Crystal Islands” concept, emphasizing natural light, open flow, and organic forms.

The redevelopment will add 20,000 square meters (sqm) of gross leasable area (GLA) and introduce nature-inspired architecture, improved mobility features, and energy-efficient systems. The addition of themed retail zones and intuitive wayfinding is designed to make the mall more accessible, while encouraging visitors to explore and discover new experiences throughout the expansive complex.

Operational upgrades include a new four-level basement parking facility with over 1,600 slots, expanded walkways and ceilings, and improved circulation through wider corridors and modernized vertical transport.

The redevelopment also includes relocated state-of-the-art cinemas, a new Megatrade Hall, a redesigned food court, and upgraded common areas and restrooms.

Sustainability features are integral to the redevelopment blueprint. A rainwater harvesting system with a 500-cubic-meter capacity will support water conservation, while upgrades to the mall’s mechanical systems are expected to reduce overall energy consumption.

ETFE roofing will be used to let in natural light and reduce cooling costs, while skylights and clerestory windows will minimize artificial lighting.

Let me end this post by asking you readers: What is your reaction to this recent development? When was the last time you spent at least half a day at SM Megamall doing shopping and leisurely activities? Are your favorite restaurants located inside SM Megamall?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

ADB sees Philippine economy growing by 5.6% this year

August 1, 2025July 24, 2025carlocarrasco

By pointing to a variety of factors, the Asian Development Bank (ADB) recently announced that the economy of the Philippines will grow by 5.6% this year, according to a news article by the Philippine News Agency (PNA). The ADB recently released its latest economy report.

To put things in perspective, posted below is an excerpt from the first PNA news article. Some parts in boldface…

The Philippines is expected to post the second highest economic growth in Southeast Asia this year despite the downgrade in growth outlook due to external headwinds, a report released by the Asian Development Bank (ADB) showed.

In its Asian Development Outlook July 2025 report released on Wednesday, the ADB said Philippine economic growth is expected to settle at 5.6 percent this year.

The growth outlook for the Philippines is the second highest in Southeast Asia, next to Vietnam’s 6.3 percent. Indonesia is projected to grow by 5 percent, Malaysia by 4.3 percent, Singapore by 1.6 percent, and Thailand by 1.8 percent.

For 2026, growth is expected to slightly pick up to 5.8 percent.

The ADB’s latest projection, however, was lower than its 6 percent for 2024 and 6.1 percent for 2025 economic growth forecast amid external headwinds. The Philippine economy grew by 5.4 percent in the first quarter of the year.

“Domestic demand grew 6.7 percent, supported by easing inflation and monetary policy. However, net exports dragged on growth as brisk imports outpaced exports,” the ADB said. It added that manufacturing index (PMI) recovered slightly to 50.7 in June from 50.1 in May.

“Consumer sentiment was positive in the near term. Unemployment was low at 3.9 percent in May, and remittance growth of 3.0 percent helped sustain household spending,” it said.

The ADB, however, said that business confidence softened amid heightened global policy uncertainties.

According to the ADB, economic forecasts for most countries in Southeast Asia have been downgraded for 2025 and 2026 due to the continuing global growth slowdown and increased trade uncertainty.

“Weaker external conditions have hurt business and consumer sentiment and threaten to disrupt investment in the subregion,” it said.

“Except for Indonesia, the largest economy in the subregion, all Southeast Asian economies are expected to post weaker growth in the next two years.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think it is still possible for the economy of the Philippines reach 6% GDP growth by the end of 2025?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Domestic travel leading recovery of Philippine tourism industry

July 15, 2025July 11, 2025carlocarrasco

While it is a fact that the Philippines is failing on attracting visitors from overseas, the real estate advisory firm Leechiu Property Consultants (LPC) pointed to domestic travel as the key to the industry’s recovery, according to a news article by the Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Domestic travel continues to lead the recovery of the Philippine tourism industry, with its receipts able to make up for the “shortfall” in international arrivals, real estate advisory firm Leechiu Property Consultants (LPC) said Thursday.

“Domestic travel is so big. It’s so big and strong that it can make up for, now in the short term, the shortfall of international arrivals,” Alfred Lay, LPC director for Hotels, Tourism, and Leisure, said during the presentation of the LPC Q2 2025 Philippine Property Market Report in Makati City.

“It can do that for a long time, and the long-term goal for domestic tourism would probably to double (its) size within the next five to 10 years.”

Lay noted that domestic tourism expenditure in 2024 reached PHP3.16 trillion, surpassing the pre-pandemic level of PHP3.14 trillion in 2019. Tourism contributed 8.9 percent of the country’s gross domestic product (GDP) last year.

International tourism expenditures, on the other hand, stood at PHP699 billion, up from PHP600 billion pre-pandemic levels, despite missing the 2024 targets.

In an interview, Lay said he expects inbound arrivals this year to reach at least six million.

He noted that the arrival of South Korean visitors, the Philippines’ top market, has seen a decline in the past five months, likely due to the “negative media coverage” in South Korea over security issues in the country, but long-haul tourists are increasing and have offset the decline.

According to the LPC report, Korean arrivals in the first five months of 2025 dipped 19 percent to 552,000 from 682,000 in the same period last year, while inbound arrivals from the United States, Japan, Australia, and Canada surged between 9 percent and 19.4 percent.

Additional routes and flight frequencies, he said, are likewise expected to sustain this upward momentum.

Meanwhile, Lay addressed news coverage about the affordability of travel to the Philippines, stating that the country only ranks in the “middle of the pack” in terms of hotel average daily rates (ADR) compared to Southeast Asian neighbors and competitors.

The LPC report showed that the Philippines ranks fourth in hotel ADR at PHP6,048, with Thailand (PHP8,171), Cambodia (PHP6,591), and Vietnam (PHP6,359) in the top three places.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the tourism industry of the Philippines will do better this year with domestic travel as the main factor? Do you think it is still possible for the Philippines to attract at least six million foreign tourists by the end of this year? Do you think both the national government and private sector should work together to improve local infrastructure so that the cost of travel will go down?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Philippines tourism industry failing to attract many foreign visitors this year

July 10, 2025July 14, 2025carlocarrasco

Based on the latest international tourism statistics and analysis for 2025, the Philippines is clearly failing to attract foreign tourists when compared to its Southeast Asian neighbors, according to a news article by VnExpress.

For the newcomers reading this, the Philippines attracted 5.95 million foreign tourists in 2024 and generated more than P760 billion in tourism revenue. The entire Philippine tourism industry registered an 8.9% share of the Philippine gross domestic product (GDP) for 2024. The nation’s tourism industry had a strong start of over P65 billion in revenue for January 2025.

To put things in perspective, posted below is an excerpt from the VnExpress news article. Some parts in boldface…

An online debate has erupted on social media as users wonder why the Philippines, with its rich nature, culture, and cuisine, is being overlooked by foreign tourists in favor of destinations like Vietnam and Thailand.

Thea Tan, a Filipino, posted on her X account in May expressing frustration over the Philippines’ underwhelming tourism numbers despite offering what other countries dream of: breathtaking beaches, vibrant culture, incredible food, and the warmest locals.

“So, why are tourists still choosing Thailand, Vietnam, and Bali over us?” she asked.

The post quickly went viral, accumulating over 9,000 likes and hundreds of comments.

In the first quarter of the year, Malaysia topped the list of most-visited Southeast Asian countries, with 10.1 million arrivals, followed by Thailand (9.55 million), Vietnam (6 million), and Singapore (4.3 million). By April, the Philippines had only welcomed 2.1 million visitors.

In 2024, the country saw 5.9 million foreign tourists, falling short of the government’s target of 7.7 million and far behind its regional neighbors including Cambodia, which had 6.7 million visitors.

Many online users, like Tan, argue that the Philippines is not considered a top priority destination in ASEAN.

“We are tiring out tourists with poor infrastructure and complicated transportation,” Tan noted.

Even locals find domestic travel expensive and difficult, let alone for foreign visitors, according to comments on the post.

“The Philippines has beautiful beaches, delicious food, and friendly people, but it lacks roads, reliable airports, and public transportation. Most importantly, the prices here are too high,” one local shared.

Another netizen pointed out, “In all the countries you’ve mentioned, their capitals are also tourist destinations. Manila, on the other hand, is boring for tourists. We don’t have decent museums or historical tours, and moving around in Manila is not easy either.”

A netizen added, “The government isn’t investing in quality tourist facilities and infrastructure like our neighboring countries. That’s where we’re lagging behind.“

Recently, the Philippines was ranked as the most dangerous destination by U.K. financial comparison site HelloSafe in a survey dismissed by the Philippines’ tourism experts as biased and misleading.

Victor Lim, president of the Federation of Filipino-Chinese Chambers of Commerce and Industry, emphasized that the Philippines must improve its infrastructure and enhance safety measures to establish itself as a leading tourist destination in Southeast Asia, Philstar reported.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Department of Tourism and its strategic partners should get together and come up with hard adjustments to make the Philippines more attractive to foreigners? What do you think are the five biggest problems of the tourism industry of the country? Do you consider tourism-related awards crucial to the Philippines’ ability to attract visitors from around the world?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Thai-led oil firm announces P1.5 billion, 5-year expansion in the country

April 17, 2025April 11, 2025carlocarrasco

The Thai-led oil firm PTT Philippines recently announced that it will expand its operations in the country over the next five years with P1.5 billion worth of investments, according to a Manila Bulletin news report. The expansion includes putting up new fuel stations.

To put things in perspective, posted below is an excerpt from the report of the Manila Bulletin news report. Some parts in boldface…

In a briefing on Friday, April 11, PTT Philippines officials said the company is eyeing to increase its fuel stations to 280 within the next five years.

Athiwat Rattanakorn, president and chief executive officer of PTT Philippines, stated that the oil firm aims to improve its nationwide presence, particularly focusing on establishing more stations in Luzon and Visayas.

Currently operating 170 stations throughout the Philippines, PTT plans to not only boost its pumping stations but also increase the brand’s presence.

The firm has also introduced a reformulated line of fuel brands, namely Power+ gasoline, Eco+ gasoline, Ultra+ diesel, and Save+ diesel.

“This is going to redefine high-performance fuels as they are intended to improve driving experience not only in terms of mileage but also the cleaning and protection formula for the engine to last longer,” Rattanakorn said.

Apichate Thipphayakosai, supply and logistics director of PTT Philippines, clarified that while they’re only aiming to add around 110 stations in the next five years, they’re focused on the aviation industry.

“We don’t go aggressively on the number of stations… We have to invest effectively in terms of that one,” he told reporters. “But one other thing that can be the mainstream of revenue of PTT Philippines is aviation. We can say that [for] most of the domestic flights.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think this new plan by PTT will make the Philippines a more attractive destination for foreign investors? Is there a PTT fuel station near you right now?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Bureau of Immigration (BI) relieves seven personnel for suspected illegal activities

April 3, 2025March 27, 2025carlocarrasco

Over suspicion of engaging in illegal activities, the Bureau of Immigration (BI) recently relieved seven of its personnel from their posts, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Seven personnel of the Bureau of Immigration (BI) suspected to be involved in illegal activities have been relieved from their posts.

In a statement Wednesday, Commissioner Joel Anthony Viado said the move aligns with President Ferdinand Marcos Jr.’s directive to eliminate corruption and strengthen border security.

He said the relieved personnel, assigned at the Ninoy Aquino International Airport (NAIA) Terminals 1 and 3, are under investigation following reports linking them to the illegal departure of trafficking victims repatriated on March 25.

If found to have assisted the victims, these employees would face charges before the Department of Justice.

Based on BI records, the victims arrived in Manila on board a Philippine Airlines flight from Bangkok, Thailand after being rescued by the Philippine government from online scamming syndicates in Myanmar.

While tighter measures are in place, Viado acknowledged the growing challenge of intercepting trafficking victims at airports, as many now come from well-off backgrounds and pose as legitimate tourists.

The BI chief also reported that a total of 1,093 victims of human trafficking were intercepted in 2024. These victims were referred to the Inter-Agency Council Against Trafficking (IACAT) for investigation and filing of cases against their recruiters.

Apart from pretending to be regular tourists, he warned that trafficking syndicates continue to exploit backdoor routes in an attempt to bypass stricter immigration controls.

Earlier this month, the BI reported the repatriation of three trafficking victims from Cambodia after being forced to work in a scam hub.

Investigations revealed they had no official record of departure, having been reportedly smuggled out via small boats from Jolo, Sulu, to Sabah, Malaysia.

The victims admitted that their passports were later stamped with fake Philippine departure marks before they traveled to Cambodia through Malaysia and Thailand.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think there could be more personnel of the Bureau of Immigration who are engaged in illegal activities that the national authorities have yet to find? Do you think that the syndicates behind human trafficking are a threat to national security?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Immigration operatives arrest two Chinese passengers who used fake visas

January 16, 2025January 8, 2025carlocarrasco

Recently at the Ninoy Aquino International Airport (NAIA) Terminal 1, two Chinese nationals who tried to leave the country using fake visas were intercepted by operatives of the Bureau of Immigration (BI), according to a GMA Network news report.

To put things in perspective, posted below is an excerpt from the GMA News report. Some parts in boldface…

Operatives of the Bureau of Immigration (BI) arrested two Chinese passengers who attempted to leave the Philippines using counterfeit visas.

According to the BI, passengers Wang Dingku, 31, and Su Zhengkun, 25, were intercepted at the Ninoy Aquino International Airport Terminal 1 after trying to board a flight bound for Bangkok, Thailand, on Sunday.

The BI said the travelers presented themselves at the immigration counter for departure formalities when the immigration officers noticed discrepancies in their visas. This prompted the BI officers to refer the documents to the forensic documents laboratory for checking, which later confirmed the documents as fake.

The BI said the Chinese passengers also allegedly used the counterfeit documents to enter the country.

The two will be charged with violating the Philippine Immigration Act before the BI board of commissioners, which will issue the order for their summary deportation.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Chinese nationals living within your local community used fake documents to enter the Philippines and will use them to go overseas?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Bureau of Immigration says harboring foreign workers of POGOs means prosecution

January 11, 2025January 8, 2025carlocarrasco

As there are still over eleven thousand foreign workers of Philippine Offshore Gaming Operators (POGOs) who failed to follow the December 31, 2024 deadline (for departure) and remained in the country, the Bureau of Immigration (BI) warned the public that harboring them is a crime and it will lead to prosecution under the Philippine Immigration Act, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

Persons harboring foreign workers of Philippine Offshore Gaming Operators (POGOs) will be prosecuted, the Bureau of Immigration (BI) warned on Wednesday, Jan. 8.

“Harboring illegal aliens is a serious offense, and we will pursue violations with utmost resolve,” said Immigration Commissioner Joel Anthony Viado.

He stressed that “the BI will not hesitate to file charges against anyone found violating Section 46 of the Philippine Immigration Act of 1940.“

Section 46 of the Philippine Immigration Act prohibits the “bringing of alien in the Philippines who is not lawfully entitled to enter or reside there, concealing or harboring an alien who is not lawfully entitled to enter or reside there, and attempting, conspiring with, or aiding another to commit any of the prohibited acts.”

Viado issued the warning after the BI revealed that over 11,000 foreign workers of POGOs failed to leave the Philippines on the Dec. 31, 2024 deadline.

For continuing to remain in the Philippines, the bureau said these aliens will be arrested and will face deportation proceedings, he said.

“Anyone who enables these individuals to remain in the Philippines illegally will face the consequences, and the law is clear, and there will be no exceptions,” he stressed.

Let me end this post by asking you readers: What is your reaction to this recent development? Are there many foreign workers of POGOs secretly living within your local community right now? Do you think there are still POGOs secretly operating in your city?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Cebu’s Remolino and Alcoseba the heavy favorites in 2025 NAGT-Subic Bay race

January 10, 2025January 10, 2025carlocarrasco

As the 2025 season opener of the National Age Group Triathlon (NAGT) series is set to take place on January 25 and 26 at the Subic Bay Boardwalk inside the Subic Bay Freeport Zone, Cebu’s very own Southeast Asian Games (SEA Games) medalists Andrew Kim Remolino and Raven Faith Alcoseba are seen as the heavy favorites in their respective categories, according to a Philippine News Agency (PNA) sports article.

In addition, there are several triathletes from Cebu who will be joining the Subic Bay triathlon across different categories. For the Philippines triathlon team, this event is crucial as it serves as a qualifying race for this year’s SEA Games which will be hosted by Thailand.

To put things in perspective, posted below is an excerpt from the sports news article of the PNA. Some parts in boldface…

Cebu will be sending a big delegation to the 2025 National Age Group Triathlon (NAGT) tournament scheduled Jan. 25 and 26 at Subic Bay Freeport.

Leading the contingent is Andrew Kim Remolino, the defending men’s elite titlist in the competition organized by the Triathlon Association of the Philippines.

“It’s gonna be a hard race to start the season since everyone’s really getting ready for it,” Remolino said in an interview on Sunday.

“The NAGT is the first qualifying race to get a slot for the SEA (Southeast) Games in Thailand, so for now, we are just preparing for the things we could improve before the race day,” added the 23-year-old who hails from Talisay.

He bagged an aquathlon silver at the 2023 Cambodia SEA Games.

The Thailand SEA Games is set in December this year.

Remolino won the 2024 NAAT, with an Olympic distance 1.5-kilometer swim, 40K bike and 10K run, in 56 minutes and 56 seconds, beating fellow Cebuano Matthew Justine Hermosa who registered a personal best 56:57 and Baguio City’s Dayshaun Ramos (57:31).

Also back this year is Raven Faith Alcoseba, who clocked 1:03:55 to rule the women’s division over Erika Nicole Burgos of Tanauan, Batangas (1:05:39) and Kira Ellis (1:06:16).

Hermosa, Burgos, Ellis and Iñaki Emil Lorbes bagged the mixed team gold medal at the Cambodia SEA Games.

Other Cebuanos in the lineup are Renz Wynn Corbin (men’s elite); John Michael Lalimos (men’s junior elite); Nicole Marie Del Rosario (women’s elite); Alex Niño Silverio and Cedei Abellana (para triathlon); Zackary Angelo Da Silva and Henry Ezekiel Go (youth male); Christy Ann Perez, Niala Kyrzl Limas and Henia Ethania Go (youth female); John Wayne Ybañez (age group men); Venice Herbias (age group women); Kian Manabat (16-19); Mika Natural (13-15); Zia Angel Da Silva (8-under); Theodore Son and John Luigi Remolino II (9-10); Safficka Son and Zoe Angel Da Silva (11-12); and Althea Arciaga (9-10).

For local triathlon updates, visit https://www.facebook.com/TriPhil.

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World Bank (WB) sees strong Philippine economic growth in 2024 and 2025

October 22, 2024October 11, 2024carlocarrasco

By citing positive factors in its latest report, the World Bank (WB) raised its Philippine economic growth forecasts for 2024 and 2025, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the BusinessWorld report. Some parts in boldface…

THE World Bank (WB) has raised its economic growth forecasts for the Philippines for this year and in 2025, driven by improved service exports and public investments.

But weak consumption and investment will keep the country’s growth below pre-pandemic levels, it said.

In its East Asia and Pacific Economic Update, the Washington-based multilateral lender now expects the Philippine economy to grow by 6% this year from 5.8%.

The Philippines could become the second-fastest growing economy in Southeast Asia, behind Vietnam (6.1%) and ahead of Cambodia (5.3%), Indonesia (5%), Malaysia (4.9%), Laos (4.1%), Timor-Leste (3%), Thailand (2.4%) and Myanmar (1%).

“Among the larger countries, only Indonesia is expected to grow in 2024 and 2025 above pre-pandemic levels, while growth in Malaysia, the Philippines, Thailand and Vietnam is expected to be below those levels,” the World Bank said.

For 2025, it forecasts Philippine economic output to expand by 6.1% from 5.9% in its April forecast.

The lender’s growth forecasts for the Philippines are at the low end of the government’s target of 6-7% for 2024 and below the 6.5-7.5% goal for next year.

The Philippine economy grew by 6.3% in the second quarter, faster than 5.8% in the previous quarter and 4.3% a year ago. In the first half, growth averaged 6%.

The World Bank said service exports and public investment have supported Philippine economic growth, but consumption and private investment remain weak.

From 2024 to 2026, the lender expects the Philippine economy to grow by an average of 6%, it said in a separate report.

This will be supported by remittances, jobs, slower inflation and external demand. However, weaker growth in China, global economic slowdown and weather disruptions are risks to the outlook.

It also projects the government’s budget deficit to fall to 4.6% of gross domestic product (GDP) by 2026 due to improved state spending. This is slightly below the 4.73% target for the year.

Better revenue collection will be supported by key tax measures, improved tax administration and higher dividends from state-owned corporations, the World Bank said.

The lender also raised this year’s growth forecast for the East Asia-Pacific region to 4.8% from 4.5% in April.

“Most East Asia-Pacific economies are expected to experience robust growth in 2024, supported by private consumption and a positive external environment,” according to the report. In 2025, the region is expected to grow by 4.4% from its previous forecast of 4.3%.

However, domestic demand is expected to moderate in the Philippines, Indonesia and Thailand, while private investment growth remains weak across the region.

“Investment growth has been declining across most countries in the region over the past two decades, with particularly sharp drops in China, Indonesia, Malaysia, and more recently, the Philippines.”

It also noted that the Philippines and Malaysia have kept a conservative fiscal stance due to their higher structural deficit this year.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines has enough momentum to exceed the WB’s economic growth forecasts for 2024 and 2025?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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