Philstar
‘Too early to tinker with growth targets’
Budget Secretary Amenah F. Pangandaman stated that there is no immediate need to adjust the government's 6-8% GDP growth target for 2025.
Pangandaman, who chairs the Development Budget Coordination Committee (DBCC), believes the Philippines will not be significantly impacted by US President Donald J. Trump's tariffs.
BMI estimates show that the 17% reciprocal tariff slapped on the Philippines could reduce GDP by 1.1 percentage points.
Pangandaman noted that Secretaries Frederick Go and Cristina Roque are leaving for the US next week for negotiations.
Despite this, multilateral institutions have become less optimistic on the Philippines' economic prospects for the year due to Washington's protectionist policies.
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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.
ANZ Research predicts the Philippine economy will slow to 5% growth in 2025 and 5.5% in 2026, falling short of the government's 6-8% target.
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The International Monetary Fund (IMF) has lowered its economic growth forecast for the Philippines for 2025 to 5.5%, down from a previous projection of 6.1%.
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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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The World Bank has lowered its economic growth projections for the Philippines for 2025, 2026, and 2027, citing global trade policy uncertainties and an anticipated slowdown in worldwide economic activity.
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