Philippines growth seen slowing in H2

Philippine economic growth is expected to slow in the second half as global economic conditions weaken and reciprocal tariffs imposed by the United States take full effect, according to research and analysis firm BMI.

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In a report, the Fitch Solutions unit said it is keeping its 2025 gross domestic product (GDP) growth forecast for the Philippines at 5.4 percent, even as the US has announced the imposition of a slightly lower tariff on Philippine exports.

Since Aug. 7, Philippine exports to the US have been slapped with a 19-percent tariff, slightly lower than the 20 percent levy announced in July.

The latest tariff rate, however, is higher than the 17 percent levy that the US unveiled in April.