THE Asian Development Bank (ADB) has trimmed its growth projections for the Philippines in line with a reduced outlook for Asia-Pacific growth given rising global uncertainties. Gross domestic product (GDP) growth is expected to hit 5.6 percent this year, slowing from 5.7 percent in 2025, instead of expanding by 6.0 percent. A rebound to 5.8 percent was forecast for 2026, but this is also lower than the previous projection of 6.1 percent. This year's outlook falls within the government's 5.5- to 6.5-percent target while that for 2026 is below the 6.0- to 7.0-percent goal. Both were lowered last month from 6.0-6.5 percent and 6.0-8.0 percent, respectively. “Set exports dragged on growth as brisk imports outpaced exports,” the ADB said, noting that business confidence had also softened amid heightened global policy uncertainties.While the ADB said that it expected to see only a modest impact from the United States' newly approved 1-percent tax on remittance transfers in the region, the Philippines is expected to be affected the most. https://www.manilatimes.net/2025/07/24/business/top-business/adb-cuts-ph-forecasts-amid-global-headwinds/2154430 (ICE SINGAPORE)

Fonte notizia: The Manila Times, 24 July 2025