The Philippine Chamber of Commerce and Industry (PCCI) remains confident the country can hit its full-year economic growth target, despite fresh headwinds from a steep US tariff on Philippine exports.
PCCI President Enunina Mangio said on Thursday the quarter-on-quarter pace of growth in gross domestic product in April to June was a “strong sign” that the economy could sustain momentum and land within the government’s 5.5 to 6.5 percent goal for 2025.
“This is not the final outcome,” Mangio said, referring to the 19-percent tariff recently imposed by the United States. “Let’s give it a few more months. I believe it will go down. And remember, we’re working on our free trade agreement. Maybe the US government is just waiting for proper timing.”
Speaking on the sidelines of the Metro Manila Business Conference in Quezon City, Mangio expressed optimism that trade negotiators could still secure better terms — and that, in the meantime, the country could move forward on its own strength.
“I think with our own effort, we can reach the government target. Yes, we can reach the government target,” she said.
She pointed to President Ferdinand Marcos Jr.’s State of the Nation Address last month, in which he emphasized anti-corruption efforts, education reform, and support for micro, small, and medium enterprises.
“We feel that business will move forward,” Mangio said. “It’s a good indication to all our possible investors.”
While exporters remain wary of the tariff issue, she said many are pushing ahead with business as usual — helped by what she described as stronger collaboration between the private sector and government.
“The government and the business sectors are working together this time to address all issues that are affecting our investors,” she said. “Because of that, we’re looking forward to more investors in the coming months and the coming years.”
MBC cheers agri growth
In a separate statement, the Makati Business Club (MBC) welcomed the agriculture sector’s performance in the second quarter, calling its resurgence a “strong win” for inclusive growth.
“Agriculture is one of MBC’s core advocacies,” MBC Executive Director Apa Ongpin said. “We collaborate with a wide spectrum of partners to bring the business community’s resources and expertise into agricultural development.”
Citing official data, Ongpin noted the sector grew 7 percent in Q2 — a sharp turnaround from the previous quarter’s 2.2 percent, and its strongest showing in recent years.
MBC also congratulated the government’s economic team, particularly the Department of Agriculture, for the sector’s improved output.
“By driving private sector involvement and championing modern, scalable, and inclusive models, MBC aims to foster a food-secure future built on farmer prosperity and consumer benefit,” Ongpin said.
