{"id":19791,"date":"2024-07-17T03:04:11","date_gmt":"2024-07-17T03:04:11","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/philippines-likely-to-post-one-of-the-fastest-growth-rates-in-asia-this-year-2025-imf\/"},"modified":"2024-07-17T03:04:11","modified_gmt":"2024-07-17T03:04:11","slug":"philippines-likely-to-post-one-of-the-fastest-growth-rates-in-asia-this-year-2025-imf","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/philippines-likely-to-post-one-of-the-fastest-growth-rates-in-asia-this-year-2025-imf\/","title":{"rendered":"Philippines likely to post one of the fastest growth rates in Asia this year, 2025 \u2014 IMF"},"content":{"rendered":"<div>\n<p class=\"p2\">THE PHILIPPINES will likely post the second-fastest growth in Asia this year and in 2025, the International Monetary Fund (IMF) said.<\/p>\n<p class=\"p3\">In its latest World Economic Outlook report, the IMF maintained its gross domestic product (GDP) growth forecast for the Philippines at 6% this year and 6.2% in 2025.<\/p>\n<p class=\"p3\">If realized, the Philippine economic growth would be the second fastest among selected Asian economies, after India\u2019s 7.5% GDP growth forecast.<\/p>\n<p><a title=\"IMF's World Economic Outlook growth forecasts for select Asian economies\" href=\"https:\/\/www.flickr.com\/photos\/142608056@N02\/53860786984\/in\/dateposted\/\" data-flickr-embed=\"true\"><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/energybuzz.ph\/staging\/6915\/wp-content\/uploads\/2024\/07\/53860786984_6edd86a56d_o.jpg\" alt=\"IMF's World Economic Outlook growth forecasts for select Asian economies\" width=\"2048\" height=\"880\"><\/a><script async src=\"\/\/embedr.flickr.com\/assets\/client-code.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p3\">The Philippines\u2019 growth forecast for 2024 is faster than China (5%), Indonesia (5%), Malaysia (4.4%), Kazakhstan (3.5%), and Iran (3.3%), the IMF said.<\/p>\n<p class=\"p3\">It would also surpass Thailand (2.9%), Egypt (2.7%), Korea (2.5%), Pakistan (2%), Saudi Arabia (1.7%), and Japan (0.7%).<\/p>\n<p class=\"p3\"><span class=\"s1\">\u201cAsia\u2019s emerging market economies remain the main engine for the global economy,\u201d Pierre-Olivier Gourinchas, economic counsellor and the director of research of the IMF, said in a statement.<\/span><\/p>\n<p class=\"p3\">The IMF maintained its global growth projection at 3.2% in 2024 and 3.3% in 2025, \u201cbroadly unchanged\u201d from the previous report\u2019s forecasts.<\/p>\n<p class=\"p3\"><span class=\"s1\">The IMF cut the United States growth forecast to 2.6% this year, but kept the growth estimate at 1.9% for 2025.<\/span><\/p>\n<p class=\"p3\">\u201cThe forecast for growth in emerging market and developing economies is revised upward; the projected increase is powered by stronger activity in Asia, particularly China and India,\u201d it said.<\/p>\n<p class=\"p3\">The IMF raised its forecasts for emerging market and developing Asia, which is seen to grow by 5.4% this year and by 5.1% in 2025.<\/p>\n<p class=\"p3\">The growth projection for China was also raised to 5% for this year, \u201cprimarily on account of a rebound in private consumption and strong exports in the first quarter.\u201d China\u2019s growth is expected to slow to 4.5% next year, and \u201cto continue to decelerate over the medium term to 3.3% by 2029, because of headwinds from aging and slowing productivity growth.\u201d<\/p>\n<p class=\"p3\">However, \u201cprospects for the next five years remain weak, largely because of waning momentum in emerging Asia,\u201d IMF said.<\/p>\n<p class=\"p3\">The IMF said risks to the outlook \u201cremain balanced\u201d although upside risks to inflation \u201cstem from a lack of progress on services disinflation and price pressures emanating from renewed trade or geopolitical tensions.\u201d<\/p>\n<p class=\"p3\"><span class=\"s3\">\u201cThe risk of elevated inflation has raised the prospects of higher-for-even-longer interest rates, which in turn increases external, fiscal, and financial risks,\u201d it said.<\/span><\/p>\n<p class=\"p3\"><span class=\"s4\">\u201cProlonged dollar appreciation arising from rate disparities could disrupt capital flows and impede planned monetary policy easing, which coul<\/span><span class=\"s5\">d adversely impact growth. Persistently high interest rates could raise borrowing costs further and affect financial stability if fiscal improvements do not offset higher real rates amid lower potential growth.\u201d<\/span><\/p>\n<p class=\"p3\"><span class=\"s6\">During its last policy meeting, the US Federal Reserve left interest rates unchanged at 5.25%-to-5.5%. Fresh projections from policy makers showed them dialing back expectations for rate cuts this year from three to just one, Reuters reported. \u2014 <b>BMDC<\/b><\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div>THE PHILIPPINES will likely post the second-fastest growth in Asia this year and in 2025, the International Monetary Fund (IMF) said. In its latest World Economic Outlook report, the IMF maintained its gross domestic product (GDP) growth forecast for the Philippines at 6% this year and 6.2% in 2025. If realized, the Philippine economic growth [\u2026]<\/div>\n","protected":false},"author":1,"featured_media":19792,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[6509,254,14644,2209,11413,15157,252,3506,1572,6616,8579,214,745,1369,11],"class_list":["post-19791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-6509","tag-asia","tag-bworldonline","tag-fastest","tag-growth","tag-imf","tag-likely","tag-one","tag-philippines","tag-post","tag-rates","tag-the","tag-this","tag-year","tag-years"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Philippines likely to post one of the fastest growth rates in Asia this year, 2025 \u2014 IMF - Energy Buzz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energybuzz.ph\/philippines-likely-to-post-one-of-the-fastest-growth-rates-in-asia-this-year-2025-imf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Philippines likely to post one of the fastest growth rates in Asia this year, 2025 \u2014 IMF - Energy Buzz\" \/>\n<meta property=\"og:description\" content=\"THE PHILIPPINES will likely post the second-fastest growth in Asia this year and in 2025, the International Monetary Fund (IMF) said. In its latest World Economic Outlook report, the IMF maintained its gross domestic product (GDP) growth forecast for the Philippines at 6% this year and 6.2% in 2025. If realized, the Philippine economic growth [\u2026]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/energybuzz.ph\/philippines-likely-to-post-one-of-the-fastest-growth-rates-in-asia-this-year-2025-imf\/\" \/>\n<meta property=\"og:site_name\" content=\"Energy Buzz\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-17T03:04:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/energybuzz.ph\/wp-content\/uploads\/2024\/07\/53860786984_6edd86a56d_o.jpg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/philippines-likely-to-post-one-of-the-fastest-growth-rates-in-asia-this-year-2025-imf\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/philippines-likely-to-post-one-of-the-fastest-growth-rates-in-asia-this-year-2025-imf\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#\\\/schema\\\/person\\\/344f8dbaaecf75e51367eef93f492892\"},\"headline\":\"Philippines likely to post one of the fastest growth rates in Asia this year, 2025 \u2014 IMF\",\"datePublished\":\"2024-07-17T03:04:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/philippines-likely-to-post-one-of-the-fastest-growth-rates-in-asia-this-year-2025-imf\\\/\"},\"wordCount\":448,\"publisher\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/philippines-likely-to-post-one-of-the-fastest-growth-rates-in-asia-this-year-2025-imf\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/energybuzz.ph\\\/staging\\\/6915\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/53860786984_6edd86a56d_o.jpg\",\"keywords\":[\"2025\",\"asia\",\"bworldonline\",\"fastest\",\"growth\",\"imf\",\"likely\",\"one\",\"philippines\",\"post\",\"rates\",\"the\",\"this\",\"year\",\"years\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/energybuzz.ph\\\/philippines-likely-to-post-one-of-the-fastest-growth-rates-in-asia-this-year-2025-imf\\\/\",\"url\":\"https:\\\/\\\/energybuzz.ph\\\/philippines-likely-to-post-one-of-the-fastest-growth-rates-in-asia-this-year-2025-imf\\\/\",\"name\":\"Philippines likely to post one of the fastest growth rates in Asia this year, 2025 \u2014 IMF - 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