ING Philippines delivered its annual economic outlook on 4 March at Shangri-La The Fort, offering a comprehensive analysis of the key drivers shaping the global and Philippine economies in 2025.
The event, attended by corporate executives and investment professionals, centred on three transformative themes: Trade, Tariffs, and Technology.
These themes were identified as critical forces with the potential to reshape markets and influence economic trajectories in the coming year.
“Filipino businesses deserve a clear understanding of the challenges and opportunities ahead,”said Jun Palanca, country manager of ING Philippines.
The event featured a panel of esteemed speakers, including Finance Undersecretary Domini Velasquez, ING Asia Pacific chief economist Deepali Bhargava, and Peter Noordzij, head of Wholesale Banking Technology at ING Hubs Philippines.
Usec. Domini explored economic risk mitigation and the Philippines’ opportunities in artificial intelligence (AI), while Deepali addressed global economic risks and their impact on growth and employment.
Peter delved into AI’s transformative potential and ING’s strategic approach to leveraging technology.
The Philippine economy remains a standout performer in Asia, with GDP growth projected at 6.1% in 2025, following a strong recovery in 2024.The country ranked as the third-fastest-growing economy in Asia and eighth globally in 2024, driven by robust labour market conditions and rising domestic consumption.
Inflation remained within target in 2024, supported by reduced rice tariffs, which lowered prices by an average of P3.41/kg.
This enabled the Bangko Sentral ng Pilipinas (BSP) to become the first among ASEAN-5 central banks to initiate monetary easing.
Strategic reforms, such as the CREATE MORE Act, are expected to further enhance the business environment by reducing corporate tax rates from 25% to 20% and streamlining investment processes.
Additional initiatives, including entry into the JPMorgan Bond Index and amendments to key banking charters, underscore the government’s commitment to fostering a competitive economy.
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