Philippines Cuts 2026 Growth View to 3.5%-4.5%, Sees Weaker Peso Beyond 2028
Updated
Updated · Bloomberg · Jun 29
Philippines Cuts 2026 Growth View to 3.5%-4.5%, Sees Weaker Peso Beyond 2028
2 articles · Updated · Bloomberg · Jun 29
Summary
The government lowered its economic growth target for 2026 to 3.5%-4.5%, while projecting annual expansion of 5%-6% from 2027 through 2030.
A Development Budget Coordination Committee memorandum cited Middle East tensions and an intense El Niño weather event as the main headwinds behind the downgrade.
The same outlook also points to a weaker peso beyond 2028, extending currency pressure past the end of President Ferdinand Marcos Jr.'s term.
The revisions signal a more cautious medium-term view for the Southeast Asian economy as external shocks and climate risks weigh on planning.