Manila, April 3 -- The Philippine Statistics Authority (PSA) revised upward on Thursday the fourth quarter 2024 gross domestic product (GDP) growth to 5.3 percent from 5.2 percent.

In a report, the PSA said the full-year 2024 GDP growth rate was also revised to 5.7 percent from 5.6 percent.

"The PSA revises the GDP estimates based on an approved revision policy (PSA Board Resolution No. 1, Series of 2017-053), which is consistent with international standard practices on national accounts revisions," the PSA said.

The first quarter of 2025 Philippine economic growth data is scheduled to be released on May 8.

The Development Budget Coordination Committee (DBCC) has set a 6 percent to 8 percent economic growth target for 2025 and 2026. ...