Inside the Philippines: June 2024

Macro Movements: Philippines expected to grow by 5.9% in 2024; Inflation picks-up at 3.9% in May 2024

World Bank expects Philippines to grow by 5.8% this year and 5.9% in 2025
Philippine Inflation picks-up to 3.9% for the month of May 2024

Industry Insights: North-South Commuter Rail operational by 2026; Samar BioSPV leads largest reforestation effort

North-South Commuter Railway at 60% completion and may start operation by 2026
Samar BioSPV leads the country’s largest reforestation effort and supports the development of a carbon credit framework

Deals Spotlight: Ayala Crops exits Manila Water for P 14.5 billion; Lhoopa secures USD 12.5 million in Series B funding

Digital economy continues to grow, supported by investments in enabling infrastructure and e-commerce platforms
E-commerce Sustains Pandemic-driven Growth Momentum supported by Zalora and Ninja Van

Market Movers: Growth indicated by Nasdaq listing and fostered by pioneering seawater hydropower infrastructure

Ayala Corp. sells P 14.5 billion stake in Manila Water to subsidiary of Prime Infrastructure
Lhoopa raises USD 12.5 million in the first close of its Series B funding

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