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MANILA, Philippines – The Philippine economy is facing an even more sobering outlook this year as both the International Monetary Fund (IMF) and Asian Development Bank (ADB) slashed their growth forecasts, citing mounting fallout from the Middle East war.
In its updated World Economic Outlook, the IMF lowered its 2026 gross domestic product (GDP) growth forecast for the Philippines to 3.9 percent from the 4.1 percent projection it made in April.
READ: S&P cuts PH growth outlook to 4.1%
“This reflects a weaker-than-expected outturn in 2026 first quarter (2.8 percent) alongside a larger-than-expected effect of the war in the Middle East on prices and activity in the Philippines,” an IMF spokesperson said.
