'Phl economy still fastest in Asean in 2024, 2025'

The Philippines is expected to remain among the fastest growing economies in Southeast Asia this year and in 2025, with growth to be driven mainly by government spending and services exports, according to the Association of Southeast Asian Nations Plus 3 Macroeconomic Research Office (AMRO).

- KEISHA TA-ASAN

In a report, AMRO said it has retained its 2024 economic growth forecast for the Philippines at 6.1 percent.

AMRO's forecast is above the low-end of the government's six to seven percent economic growth target for this year.

If the forecast is achieved, the Philippines will be the second fastest growing economy in ASEAN this year, next to Vietnam, which is expected to grow by 6.2 percent.