PH economic growth target revised down for 2025

Economic managers have revised the Philippine economic growth target for 2025 downward to a range of 5.5 to 6.5 percent.

This adjustment reflects heightened global uncertainties, including the escalation of tensions in the Middle East and US tariffs.

For 2026 to 2028, the economy is projected to expand by 6 to 7 percent, a narrowing from the previous target.

The administration of President Ferdinand Marcos Jr. has missed its gross domestic product (GDP) growth targets for two straight years, in 2023 and 2024.

Despite these revised targets, Socioeconomic Planning Secretary Arsenio Balisacan remains optimistic that the economy can meet the new 5.5% to 6.5% goal for 2025.

This optimism is fueled by an expected boost in domestic consumption due to factors such as low interest rates, declining policy rates, controlled inflation, and a robust labor market.