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Neda: Tariff war puts 8% ΚΌ25 GDP growth in peril
The Philippine government is maintaining its six to eight percent economic growth target for the year, but the upper end of this projection may become unrealistic due to uncertainties arising from the US tariffs on its trade partners.
NEDA Secretary Arsenio Balisacan stated that while the government remains confident in achieving at least the lower end of the target, a growth rate of eight percent might not be a realistic assumption under the current global economic climate.
The decision to potentially revise the growth target will depend on further information, including the first quarter Gross Domestic Product (GDP) performance which is scheduled for release next month.
Despite expected challenges in the second quarter, the government believes that a growth rate between six and seven percent is still achievable.
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See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
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.
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The Philippine government's economic team, specifically the National Economic and Development Authority (NEDA), estimates that US reciprocal tariffs of 17% on Philippine exports could reduce the country's gross domestic product (GDP) by 0.1% in the next two years.
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The Philippine economy is projected to grow by six percent in the first quarter, a slight reduction from earlier estimates due to uncertainties stemming from US tariff concerns.
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Moody's Analytics has lowered its 2025 GDP growth forecast for the Philippines to 5.8% from 5.9% due to the anticipated impact of US reciprocal tariffs.
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The Asian Development Bank (ADB) has revised its Philippine GDP growth forecast for 2025 to six percent, a decrease from its earlier 6.2% projection.
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