In its latest analysis and assessment, S&P Global predicts weaker gross domestic product (GDP) growth for the Philippines at 4.1% this year, according to a news report by BusinessWorld.
To put things in perspective, posted below is an excerpt from the report of BusinessWorld. Some parts in boldface…
The economic drag from the Middle East-war driven oil shocks and last year’s flood control mess fallout could slow the Philippines’ growth to 4.1% this year, S&P Global said.
In its latest economic outlook for Asia-Pacific, the debt watcher cut its gross domestic product (GDP) growth forecast for the Philippines to 4.1% for this year, from 5.8% previously.
S&P Global Asia-Pacific Chief Economist Louis Kuijs and Senior Economist Vishrut Rana noted that the Philippines emerged as a laggard in the region, which was largely resilient at the start of the year.
“Asia-Pacific economic growth largely held up in early 2026. In the first quarter, GDP growth met or exceeded expectations in most economies, with generally solid contributions from both exports and domestic demand,” Mr. Kujis and Mr. Rana said.
“However, growth significantly lagged expectations in the Philippines, where the energy shock combines with a sharp reduction in public infrastructure spending related to misutilization of funds,” they added.
In the first quarter, the economy unexpectedly grew by 2.8%, its weakest growth since the COVID-19 pandemic, due to spiraling oil prices and the lingering effects of last year’s corruption scandal.
The S&P economists noted that countries in the Asia-Pacific, including the Philippines, are heavily reliant on oil imports from the Middle East, which made them vulnerable to disruptions in the region’s key energy facilities and the Strait of Hormuz.
Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the government has any plans to stimulate economic growth? Do you see the GDP of the Philippines growing at a slower rate over the next several quarters? Do you think the economic managers of the current administration should be replaced?
You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.
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