Recto expects PH economy to grow at 5.7-5.8% in H2

Finance Secretary Ralph Recto expects Philippine economic growth to accelerate in the second half of the year.

Recto told reporters on Wednesday that despite global uncertainties such as US tariffs, the economy is expected to perform better than it did in the first quarter, which saw a 5.4% growth.

He noted that household consumption remains the biggest driver of economic growth, followed by government spending, with over 70% of the economy dependent on these factors.

Despite this optimism, Recto acknowledged that the full-year target might be at the lower end, around 5.7 to 5.8 percent, due to uncertainty in trade policy.

Earlier in the year, economic managers revised the growth target to 5.5 to 6.5 percent, reflecting a more measured outlook amid global headwinds and US tariffs that were announced higher than initially expected.