THE Asean+3 Macroeconomic Research Office (AMRO) has lowered its outlook for Philippine economic growth given recent developments.
THE Asean+3 Macroeconomic Research Office has lowered its outlook for Philippine economic growth given recent developments.Gross domestic product growth will likely hit 5.8 percent this year, it said in an annual consultation report released on Monday, below the government's just-revised 6.0- to 6.5-percent target. While an improvement from 2023's 5.5-percent expansion, it is lower than the 6.1-percent estimate issued in September following a consultation visit.
kept its 2025 GDP growth forecast at 6.3 percent, but this is also below the government's adjusted 6.0- to 8.0-percent goal for that year.Lower inflation and interest rate cuts will support Philippine economic growth, it said, but prospects 'could be subject to a few risk factors' that include a resurgence in consumer price growth and a sharp slowdown in major trading partners,
noted.A worsening of geopolitical tensions in Ukraine and in the Middle East, meanwhile, could lead to supply shocks and pressure inflation.A likely escalation in an ongoing row between China and the US could lead to global economic fragmentation, 'causing substantial uncertainties and eroding market sentiments, which would adversely affect foreign investments in the region.
also said.Financial stability remains sound, meanwhile, but 'more active use of macroprudential toolkits could be considered' if risks arise.
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