Fitch Unit Projects Philippine Q1 Economic Growth at 3.6%
A Fitch Group unit forecasts a 3.6 percent growth rate for the Philippine economy in the first quarter, citing oil prices and low government spending as ongoing risks.
The Philippine economy is projected to have expanded by 3.6 percent during the first quarter of the year, according to new data from a Fitch Group unit. This forecasted figure reflects ongoing challenges within the national economic landscape as the country enters the first half of the year.
Looking beyond the initial quarter, the report identifies several headwinds that may continue to dampen growth momentum for the remainder of the year. Specifically, analysts pointed to the persistent impact of elevated global oil prices, which have created inflationary pressures and increased operational costs. Furthermore, the report highlighted that subdued government spending has acted as a drag on overall economic activity. These combined factors remain key variables that could influence the Philippines’ fiscal and growth trajectory through the end of the year.