NOMURA Global Markets Research has trimmed its gross domestic product (GDP) growth forecast for the Philippines next year, citing risks such as from US President-elect Donald J. Trump’s policies and domestic political tensions.
“We expect growth to gradually improve in 2025 but still undershoot official targets. The economy is vulnerable to Trump policies but public investment and election-related spending will support domestic demand,” it said.
Nomura clipped its GDP growth forecast to 6% for 2025 from its earlier projection of 6.1%. This would be the lower end of the government’s revised 6-8% growth target for next year.
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