Residential real estate prices of various types of new housing units in the Philippines continued to increase in 4Q 2023, rising by 6.5 percent year-on-year, albeit lower than the 12.9 percent growth in 3Q 2023. Quarter-on-quarter, the index contracted by 3.6 percent, which is a reversal of the 3.4 percent growth registered in 3Q 2023.
Below-capacity water levels at hydroelectric facilities in the Luzon grid has increased the likelihood of so-called yellow alerts being issued in the hot months ahead, the Department of Energy (DOE) said.
The Philippines will need more investment to develop its young talent pool, critical infrastructure and renewable energy to sustain its robust economic growth and become a formidable player in the world economy, said Borge Brende, president of the World Economic Forum.