THE World Bank raised its 2023 growth forecast for the Philippines to 6.0 percent from 5.6 percent, citing strong domestic demand

The Washington-based multilateral organization still expects a slowdown to follow, keeping its projections for 2024 and 2025 at 5.9 percent, figures released on Wednesday showed. 'Despite weak external conditions, strong domestic demand will drive the Philippine economy to grow at 6.0 percent in 2023 and gradually decline over the medium term,' the World Bank said in its latest Philippine Economic Update.