Philippine News Agency
PH to deliver one of strongest growths in ASEAN
HSBC projects that the Philippine economy will lead growth in the ASEAN region in 2025, with a projected growth rate of 4.8 percent for ASEAN-6 economies, driven by strong domestic consumption and investment.
The Philippines' economic expansion is expected to be fueled by robust domestic consumption, a thriving business process outsourcing (BPO) sector, and increasing investments in digital services.
Despite potential risks from trade uncertainty and a stronger US dollar, the peso is expected to remain resilient.
HSBC noted that ASEAN countries exporting AI-related technologies are expected to benefit from the global tech boom and shifting trade patterns caused by US trade restrictions on China.
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The Philippines is projected to be one of the strongest economic performers in Southeast Asia, with its growth expected to accelerate in 2025 and 2026, according to a report by the UN Department of Economic and Social Affairs.
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The World Bank forecasts the Philippine economy to grow by 6.1% in 2025, positioning it as Southeast Asia's second fastest-growing economy after Vietnam.
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The International Monetary Fund (IMF) has maintained its projection of 6.1% economic growth for the Philippines in 2025 and 6.3% for 2026, citing robust domestic demand, disinflation, easing monetary policy, and robust public spending.
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