Benise Balaoing

A view of the Makati skyline on August 24, 2022. George Calvelo, ABS-CBN News

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Buildings mark Makati skyline

ABS-CBN News

<p>MANILA — Fitch Solutions unit BMI is keeping its 5.4 percent full-year economic growth outlook for the Philippines this year.</p><p>In a statement, BMI said its is keeping its forecast for the Philippine economy a day after the state statistics bureau said gross domestic product (GDP) grew by 5.4 percent in the first three months of 2025.</p><div><a href="https://www.abs-cbn.com/news/business/2025/5/8/philippine-gdp-grows-5-4-percent-in-first-quarter-of-2025-1005" rel="noopener noreferrer" target="_blank">Philippine GDP grows 5.4 percent in first quarter of 2025</a></div><p>BMI noted that private consumption went up in the first quarter, contributing 3.9 percentage points to the GDP. </p><p>&quot;With inflation expected to ease to an eight-year low of 2.2% in 2025, this will provide some support to real incomes and, in turn, household spending,&quot; BMI said.</p><p>It also noted that government spending is expected to climb as the Philippines prepares for Halalan 2025.</p><p>The think tank also pointed out that interest rate cuts by the Bangko Sentral ng Pilipinas seems to have encouraged investment activity. </p><p>The contribution to GDP from fixed capital formation went up to 1.3 percentage points from January to March, from 1.1 percentage points in the last quarter of 2024.</p><p>&quot;With the Bank likely to cut by another 75bps on our forecast, this renewed acceleration would be sustained,&quot; BMI said.</p><p>It noted, however, that weak global demand may cause Philippine exports growth to slow sharply.</p><div><a href="https://www.abs-cbn.com/news/business/2025/4/3/philippines-sees-possibilities-in-trump-s-tariff-push-1711" rel="noopener noreferrer" target="_blank">Philippines sees possibilities in Trump&#x27;s tariff push</a> </div><div><a href="https://www.abs-cbn.com/news/business/2025/4/7/philippines-not-a-major-agri-exporter-to-us-industry-group-says-amid-trump-tariffs-1354" rel="noopener noreferrer" target="_blank">Philippines not a major agri exporter to US, industry group says amid Trump tariffs</a></div><div><a href="https://www.abs-cbn.com/news/business/2025/4/12/dti-trump-tariffs-could-mean-more-sales-of-coconut-oil-mangoes-other-ph-exports-1147" rel="noopener noreferrer" target="_blank">DTI: Trump tariffs could mean more sales of coconut oil, mangoes, other PH exports</a>   </div>

<p>Fitch Solutions unit BMI is keeping its growth outlook for the Philippine economy this year.</p>

Fitch Solutions unit BMI is keeping its growth outlook for the Philippine economy this year.

Fitch unit keeps 2025 PH growth forecast

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Fitch unit keeps 2025 PH growth forecast

Benise Balaoing,

ABS-CBN News

Published May 09, 2025 11:39 AM PHT

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