ASEAN lifts 2026 growth projection to 4.7 per cent
The bloc also expects 4.7 per cent growth in 2027, while food and energy costs, Middle East conflict and possible El Niño conditions remain risks.
ASEAN now forecasts economic growth of 4.7 per cent for 2026, up from its previous projection of 4.5 per cent, Philippine Trade Secretary Ma. Cristina Roque said on November 14. She announced the revision at the 39th ASEAN Coordinating Council meeting before the 49th ASEAN Summit.
Roque said growth was also expected to reach 4.7 per cent in 2027. She identified elevated food and energy costs, continuing Middle East conflict, disruption to energy markets and key shipping routes, and a possible strong El Niño as risks for households, companies and agriculture.
Under the Philippines' chairship, ASEAN remains on course to finish its 19 priority economic deliverables, according to Roque. She said 14 were expected to be completed by the summit, with December the target for the other five.
Roque highlighted the signing of the ASEAN Digital Economy Framework Agreement as a major development. She said it would create opportunities for cooperation on digital transformation and economic development, and called for commitments to produce practical benefits, particularly for micro, small and medium-sized enterprises.
By November, the ASEAN Economic Community Pillar had completed 3,379 activities under its Blueprint 2025, representing 87 per cent of the programme, Roque said. She urged the bloc to finish the outstanding work and ensure businesses, workers and communities benefit.
