Philippines rises in world citizenship list

The Philippines rose five spots to 89th out of 188 countries in the latest edition of CS Global Partners’ World Citizenship Report (WCR). The report assesses a country’s citizenship based on five indicators valued by high-net-worth global investors: safety and security, quality of life, economic opportunity, global mobility, and financial freedom. The country scored 53.1 out of 100, the fifth lowest in the region.

Source: Business World

IMF raises to 5.9% its 2026 Philippine economic growth forecast

The International Monetary Fund (IMF) has revised upward its 2026 Philippine economic growth forecast.

In its recent World Economic Outlook (WEO) report, the IMF said it expects the Philippine economy to grow by 5.9 percent next year, slightly higher than its previous projection of 5.8 percent.

For this year, the IMF forecasts the country’s gross domestic product to grow by 5.5 percent, which settles within the government’s 5.5 percent to 6.5 percent target.

Earlier this year, the IMF said the Philippine economy remains resilient despite external challenges and heightened policy uncertainty.

“The Philippine economy holds significant potential with a sizable demographic dividend and abundant natural resources. The government has been undertaking reforms to reduce infrastructure, health and education gaps, promote foreign direct investment, and diversify the country’s export markets,” IMF Mission Chief Elif Saxegaard earlier said.

“These reforms should be complemented by strengthening social protection programs, promoting digitalization, and increasing resilience to climate shocks and natural disasters.”

Source: Inquirer

Q2 PH growth likely higher at 5.7% – UA&P

Philippine economic growth likely picked up in the second quarter, the University of Asia and the Pacific (UA&P) said, falling within the government’s recently reduced target for 2025.

In the July edition of its Market Call report, the UA&P forecast April-June gross domestic product (GDP) growth of 5.7 percent, up from 5.4 percent in the first three months of the year.

The first-quarter result fell below the 6.0- to 8.0-percent full-year target at that time and economic managers last month revised the 2025 goal to 5.5-6.5 percent given global headwinds.

Preliminary second quarter GDP data is scheduled to be released on Aug. 7 by the Philippine Statistics Authority.

The UA&P said that second-quarter growth was likely to have been buoyed by good weather and an improvement in employment amid a weakness in government spending in the first two months of the perid and the slightly lower consumer optimism.

It noted the threat from higher US tariffs, which were also said to be constraining faster monetary policy easing and subsequently holding back spending.

Deeper interest rate cuts and more competitive exchange rates will help give local producers some room to boost production and employment, the UA&P said, leading to faster growth.

Earlier this week, Finance Secretary Ralph Recto said that second-quarter growth likely improved on the back of household and government spending.

The full-year result, however, could fall below 6.0 percent due to tariff uncertainties but still remain within target at around 5.7-5.8 percent.

US President Donald Trump has slapped a 20-percent tariff on Philippine-made goods, up from the 17 percent announced in April.

The government has said that it would be negotiating for a lower rate in a bid to avert the imposition of the 20-percent duty beginning Aug. 1.

Source: Manila Times