PH still one of Southeast Asia's fastest-growing economies in 2025, ADB says before Trump tariffs | ABS-CBN
ADVERTISEMENT
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
PH still one of Southeast Asia's fastest-growing economies in 2025, ADB says before Trump tariffs
MANILA — The Philippine economy may grow by 6 percent in 2025, the Asian Development Bank (ADB) said Wednesday.
MANILA — The Philippine economy may grow by 6 percent in 2025, the Asian Development Bank (ADB) said Wednesday.
The ADB emphasized, however, that it made its forecast before United States President Donald Trump imposed tariffs on imports from the Philippines and other countries around the world.
The ADB emphasized, however, that it made its forecast before United States President Donald Trump imposed tariffs on imports from the Philippines and other countries around the world.
In its latest Asian Development Outlook, the ADB said strong domestic demand, sustained investments in social services and vital public infrastructure, and modest inflation will keep the Philippine growth story strong.
In its latest Asian Development Outlook, the ADB said strong domestic demand, sustained investments in social services and vital public infrastructure, and modest inflation will keep the Philippine growth story strong.
The multilateral lender said rising employment, higher household incomes because of minimum wage hikes, remittances from Filipinos overseas, and election-related spending would boost private consumption.
The multilateral lender said rising employment, higher household incomes because of minimum wage hikes, remittances from Filipinos overseas, and election-related spending would boost private consumption.
ADVERTISEMENT
ADB also noted that public spending could climb because of an increase in the national budget.
ADB also noted that public spending could climb because of an increase in the national budget.
“The Philippines remains a bright spot in the Southeast Asian region, with robust private consumption and sustained investments, particularly on infrastructure, continuing to fuel growth,” said ADB Country Director for the Philippines Pavit Ramachandran.
“The Philippines remains a bright spot in the Southeast Asian region, with robust private consumption and sustained investments, particularly on infrastructure, continuing to fuel growth,” said ADB Country Director for the Philippines Pavit Ramachandran.
The bank noted, however, that increased uncertainty in global trade and investment policies after the new US tariffs could hurt market sentiment and investment decisions.
The bank noted, however, that increased uncertainty in global trade and investment policies after the new US tariffs could hurt market sentiment and investment decisions.
Geopolitical tensions and bad weather could also pose challenges, it said.
Geopolitical tensions and bad weather could also pose challenges, it said.
RELATED VIDEOS:
ADVERTISEMENT
ADVERTISEMENT
