AMRO lowers PH economic growth forecast to below 6% due to US tariffs

The ASEAN+3 Macroeconomic Research Office (AMRO) forecasts that the Philippines might fall below its six percent economic growth target for 2025 due to the impact of reciprocal tariffs imposed by the United States.

This revised forecast is lower than AMRO's previous projection of 6.3 percent GDP growth for the Philippines this year, which was finalized before the announcement of the US tariffs.

AMRO group head and principal economist Allen Ng stated that the below six percent growth expected for 2025 is based on various scenarios of US tariffs.

However, AMRO chief economist Hoe Ee Khor highlighted that the Philippines' service-driven economy and smaller manufacturing sector make it less vulnerable to tariff-related disruptions compared to other ASEAN nations.

Ng also mentioned that AMRO will update its forecast in the coming months due to the evolving nature of the trade situation.

National Economic and Development Authority Secretary Arsenio Balisacan previously stated that the upper end of this year's growth target may not be a realistic assumption amid the uncertainty caused by the US tariffs.