THE policies of the incoming Trump administration, particularly those on trade, will likely impact China and developing countries in Asia like the Philippines beginning in 2027, according to the Asian Development Bank (ADB).
THE policies of the incoming Trump administration, particularly those on trade, will likely impact China and developing countries in Asia like the Philippines beginning in 2027, according to the Asian Development Bank .
“Due to the lagged nature of the underlying policy changes, the growth impacts are not immediate, with most economies impacted mainly from 2027 onwards,” ADB said. “Moreover, the threat of higher inflation leads to a deceleration of monetary easing and higher interest rates in the US compared to the baseline from 2026 onwards,” it added.Meanwhile, ADB has maintained its growth forecast for the Philippine economy at 6 percent in 2024 and 6.2 percent next year. For inflation, ADB said this will average 3.3 percent this year, lower than the initial estimate of 3.6 percent, and 3.2 percent next year.
“Services will continue to be the dominant growth driver, with retail trade, tourism, and information technology–business process outsourcing as major contributors,” ADB, however, said. In a report at the House of Representatives this week, the National Economic and Development Authority said rice inflation fell to 9.6 percent in October 2024 from 22.5 percent in June 2024. The latest data from the Philippine Statistics Authority showed rice inflation was only at 5.1 percent in November 2024.
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