S&P Global Ratings has cut its growth outlook for the Philippines to 4.1% in 2026, citing weak consumer demand, a prolonged pullback in infrastructure spending, and elevated energy prices, as reported by Philstar Biz.
The downgrade reflects persistent headwinds that have slowed the country's economic recovery. Consumer spending remains sluggish, while government infrastructure projects face delays, further dampening growth prospects.
The updated forecast underscores the challenges the Philippine economy faces in sustaining momentum amid global and domestic pressures. Energy costs continue to strain businesses and households, adding to the drag on economic activity.