Aris Dacanay of HSBC Global Research said that as trade uncertainty and various challenges drag down the global economy, Philippine GDP growth may slow in the second half of the year. “We think the impending resistance will be severe,” the ASEAN economist wrote in a report. As tariffs spread globally, commodity exports are expected to slow down, he said. However, he said that compared to other ASEAN economies, the situation in the Philippines will be relatively better because the country has strong domestic drivers. He added that the Philippines can easily support its domestic economy to make up for weak trade, and the country is ready to achieve this through monetary policy. HSBC predicts that the Philippine economy will grow 5.6% this year.

Aris Dacanay of HSBC Global Research said that as trade uncertainty and various challenges drag down the global economy, Philippine GDP growth may slow in the second half of the year. “We think the impending resistance will be severe,” the ASEAN economist wrote in a report. As tariffs spread globally, commodity exports are expected to slow down, he said. However, he said that compared to other ASEAN economies, the situation in the Philippines will be relatively better because the country has strong domestic drivers. He added that the Philippines can easily support its domestic economy to make up for weak trade, and the country is ready to achieve this through monetary policy. HSBC predicts that the Philippine economy will grow 5.6% this year.