The World Bank Group logo is seen on the building of the Washington-based global development lender in Washington on January 17, 2019. (FILE photo by Eric BARADAT / Agence France-Presse)
MANILA, Philippines The World Bank (WB) on Monday sharply lowered its outlook for the Philippine economy, warning that rising uncertainty and a global oil shock have slowed one of Southeast Asia’s fastest-growing economies by eroding household spending, business investment and job creation.
In its latest Philippine Economic Update, the Washington-based lender now expects the country’s economy to expand 3.7 percent in 2026, a steep downgrade from the 5.3 percent growth it projected in December. It also cut its 2027 forecast to 5.2 percent from 5.4 percent.
READ: IMF, ADB slash PH growth forecast
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