MANILA, Philippines — The Philippine economy’s growth potential is unlikely to exceed 6 percent over the next two decades as low productivity, weak manufacturing and the concentration of workers in low-productivity sectors constrain its expansion, according to economists at the De La Salle University (DLSU).
In their latest book, “The Philippine Economy Toward 2050,” launched on Wednesday, DLSU economists said the country’s growth would gradually slow over the long term, falling to about 5.1 percent by 2040 and 3.6 percent by 2050.
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This is well below the 6.5-percent to 8-percent long-term vision outlined in AmBisyon Natin 2040. The forecasts also assume no major crisis over the period, meaning an economic shock could further weigh on the country’s growth prospects.FEATURED STORIES
