Benise Balaoing

Buildings tower over residential areas as seen from Pasig City on Thursday, January 29, 2026. The Philippine economy recorded a full-year growth of 4.4 percent in 2025, falling short of the government’s revised 5.5 to 6.5 percent target for the year. — Maria Tan, ABS-CBN News.

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ECONOMY PASIG-MANDALUYONG SKYLINE

ABS-CBN News

MANILA -- Debt watcher S&amp;P Global Ratings has lowered its outlook for the Philippines, as it noted that higher energy prices will widen the Philippines&#x27; current account deficit this year.<div><a href="https://www.abs-cbn.com/news/business/2025/11/27/s-p-keeps-investment-grade-rating-for-ph-amid-flood-control-scandal-1930" rel="noopener noreferrer" target="_blank">S&amp;P keeps investment grade rating for PH amid flood control scandal</a></div>&quot;Our base case assumes the war&#x27;s intensity will peak and the Strait of Hormuz&#x27;s effective closure will ease during April, but some disruptions are likely to persist for months,&quot; S&amp;P said in its latest report.The ratings agency, however, kept its &#x27;BBB+/A-2&#x27; rating on the Philippines. S&amp;P said the ratings show the Philippines&#x27; above-average economic growth potential.The credit ratings agency said it sees the Philippine economy growing by 5.8 percent in 2026. It said soaring energy prices will dampen consumer spending in the Philippines and hurt growth in the first half of the year. But a rebound is expected in the last half of 2026.&quot;We believe the impact of the ongoing energy shocks due to the Middle East war and governance-related issues would wane by the second half of the year,&quot; S&amp;P said.The purchasing power of the Philippine peso has dropped to <a href="https://www.abs-cbn.com/news/business/2026/4/7/peso-s-purchasing-power-drops-to-75-centavos-from-2018-level-1518" rel="noopener noreferrer" target="_blank">P0.75</a> from its 2018 level as inflation <a href="https://www.abs-cbn.com/news/business/2026/4/7/inflation-quickens-to-4-1-percent-in-march-0905" rel="noopener noreferrer" target="_blank">climbed</a> in the Philippines.

Debt watcher S&amp;P Global Ratings has lowered its outlook for the Philippines.

S&P downgrades Philippine outlook to stable from positive amid Middle East war

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S&P downgrades Philippine outlook to stable from positive amid Middle East war

Benise Balaoing,

ABS-CBN News

Published April 09, 2026 02:49 PM PHT

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