Analysis by Region - Emerging Markets - Philippines

The turbulence in financial markets caused by the on-again, off-again US tariff announcements in early April has settled down, for now. We have lowered our forecast for the Philippines' GDP growth by 0.3ppts to 5.7% y/y for 2025, reflecting the heightened uncertainty and its adverse effect on investment.


Philippines: Growth is losing momentum as uncertainty remains high
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Alternative long-run scenarios
Background
Economic development
Structure of the economy
Balance of payments and structure of trade
Policy
Politics

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