Philippines sees economy hitting 6% in 2025, says DBM
MANILA, Philippines — The Department of Budget and Management on Wednesday expressed confidence that the Philippines can reach its 6% gross domestic product growth goal for 2025.
The Development Budget Coordination Committee (DBCC) has set the 2025 target within a range of 5.5% to 6.5%, trimmed from the earlier 6.5% to 7.5%.
Budget Secretary Amenah Pangandaman said she expects growth to settle near the midpoint.
“I think there are a lot of investments coming in already,” she said in an ambush interview, adding that foreign investments are starting to materialize.
Asked what could power the economy, Pangandaman pointed to government spending. She added that, for now, there is no need to revise the DBCC’s targets.
The Marcos administration is aiming for 6% to 7% GDP growth through the remainder of the president’s term.
The 2025 forecast was revised earlier due to “global uncertainties” including Middle East tensions and new U.S. tariffs.
“Accelerated implementation of government programs and projects also remains a key priority, alongside seizing growth opportunities in the services sector,” the DBCC said in a previous statement.
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