The International Monetary Fund (IMF) expects the Philippines to grow faster than the regional average in Southeast Asia, citing reforms that could support stronger long-term economic expansion.
In an interview in Makati with Philippine News Agency, IMF Managing Director Kristalina Georgieva said the Philippines stands out among economies in the Association of Southeast Asian Nations (ASEAN).
The IMF projects Philippine economic growth at 5.6% this year and 5.8% in 2027, higher than the ASEAN average and well above the projected 3.3% global growth rate.
Georgieva noted that the Philippine economy has averaged growth of just under 6% in recent years, although it experienced a slight slowdown last year. She said reforms could help the country regain stronger momentum.
However, she warned that tensions in the Middle East could affect the global economy, particularly through higher energy prices that may drive inflation and tighten financial conditions worldwide.
The IMF chief also highlighted the Philippines’ reliance on imported oil and stressed the need to accelerate investments in renewable energy, including solar power, to strengthen economic resilience.
She added that the Philippines and other ASEAN economies should focus on removing investment barriers, improving governance, investing in education and human capital, and preparing the workforce for emerging technologies such as artificial intelligence.
Georgieva also emphasized the importance of strengthening resilience against climate-related shocks while maintaining strong economic institutions and sound fiscal policies.
