Fitch Ratings Sees Philippine GDP 2025 Growth at 5.6% Within Target Range

Fitch Ratings Philippines forecast puts GDP growth at 5.6% in 2025, aligning with the government’s 5.5%–6.5% target, underpinned by infrastructure investment, services exports, and remittance-driven consumption. The projection assumes easing inflation and interest rates after the BSP cut policy rates by 25 basis points (bps) to 4.75%. Fitch cautioned that global trade frictions and political uncertainty—following weaker midterm results for President Marcos Jr.’s allies and a flood-control scandal—pose risks. The agency affirmed the Philippines’ BBB rating with a stable outlook in April, citing solid medium-term fundamentals. H1 GDP grew 5.4%, and officials said Q3 performance stayed on target ahead of 7 November data, supported by consumption and state spending.