'Philippines among Southeast Asia's top growth performers'

The Philippines is projected to be the second fastest-growing economy in Southeast Asia this year and the next, although the pace of expansion is expected to slow from last year amid uncertainties stemming from external developments, according to the ASEAN+3 Macroeconomic Research Office (AMRO).

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In the Quarterly Update of the ASEAN+3 Regional Economic Outlook, AMRO said it expects the Philippine economy to grow by 5.6 percent this year.

The forecast falls within the government’s target growth range of 5.5 to 6.5 percent for this year.

If AMRO’s forecast is realized, the Philippines would post the second-highest growth in Southeast Asia, next to the projected 7.5-percent expansion for Vietnam this year.

Other ASEAN countries are expected to register slower growth rates than the Philippines, such as Indonesia (five percent), Cambodia (4.9 percent), Laos (4.4 percent), Malaysia (4.3 percent), Singapore (2.6 percent), Thailand (2.2 percent) and Brunei Darussalam (1.2 percent).

For 2026, AMRO expects the Philippine economy to expand at a slightly slower pace of 5.5 percent, below the government’s growth target of six to seven percent.