MANILA, Philippines – The Philippines received the largest growth forecast downgrade for 2026 among Asia-Pacific economies in S&P Global Ratings’ latest outlook as the impact of the oil shock and weaker public infrastructure spending continues to weigh on the economy.
In its latest report, S&P slashed its 2026 gross domestic product (GDP) growth forecast for the Philippines to 4.1 percent from 5.8 percent previously.
READ: DBCC cuts PH 2026 growth target to 3.5-4.5%
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The 1.7-percentage-point cut was the steepest among the 14 Asia-Pacific economies tracked by S&P, with only four countries seeing downward revisions to their 2026 growth forecasts.FEATURED STORIES
