Nomura sees Phl economy expanding by 6% next year

Japan-based Nomura Global Research expects economic growth in the Philippines to improve next year but still undershoot official targets at six percent.

- By CATHERINE TALAVERA

In its Asia Macro Outlook 2025 report, Nomura said it forecasts a gradual improvement in gross domestic product (GDP) growth to six percent year-on-year in 2025 from 5.6 percent in 2024, in line with consensus but still at the low end of the government's latest forecast range of 6-8 percent.

"We think public investment spending will remain a significant growth engine, as the government pushes for more progress on infrastructure projects, which remain a top priority of the Marcos administration. This push will get an added impetus from the mid-term elections on May 12, 2025," Nomura said.