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Philippines likely to post one of the fastest growth rates in Asia this year, 2025 — IMF
The International Monetary Fund (IMF) maintained its six percent economic growth forecast for the Philippines in 2024 and 6.2 percent for 2025.
These projections position the Philippines as having the second-fastest growth estimate among selected economies in the IMF's latest World Economic Outlook (WEO) Update.
India leads with the fastest growth projection at seven percent for 2024 and 6.5 percent for 2025.
Among ASEAN nations listed, the Philippines is expected to exhibit the highest growth, followed by Indonesia, Malaysia, and Thailand.
The IMF's forecasts place China and Indonesia to grow by five percent each in 2024, with projections of 4.5 percent and five percent respectively in 2025.
Other economies like Malaysia and Turkiye also have growth projections, with Malaysia expected to maintain its growth and Turkiye's easing.
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News Sources
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) has lowered its Philippine economic growth forecast to 6.1% for 2024 and 6.3% for 2025, citing a weaker-than-expected external sector recovery.
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The Asian Development Bank (ADB) has maintained its economic growth forecast for the Philippines at 6 percent for 2024.
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The Philippine economy has demonstrated an average growth of 6.1% since President Ferdinand R. Marcos Jr. assumed office in 2022.
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