Arthur Fuentes

The Manila Port Area and the Manila skyline as seen from Baseco in Tondo, Manila on Nobember 11, 2025.  Jonathan Cellon, ABS-CBN News'

Article (news)

MANILA SKYLINE

ABS-CBN News

MANILA — The Philippine economy grew 2.3 percent in the second quarter, the slowest since the pandemic. The PSA earlier reported that it kept the first quarter growth figure at 2.8 percent. Economic growth has been slowing significantly since last year, when a corruption scandal put the brakes on government spending. This year, the Middle East conflict has also pushed prices of fuel and other commodities up, further dampening growth. Last June, the Development Budget Coordination Committee (DBCC) revised the 2026 growth target down to 3.5 to 4.5 percent. Multilateral lenders such as the Asian Development Bank and the International Monetary Fund have also cut growth forecasts for the Philippines. <div>More details to follow. </div>

The Philippine economy grew 2.3 percent in the second quarter, the slowest since the pandemic.

The Philippine economy grew 2.3 percent in the second quarter, the slowest since the pandemic.

GDP growth further skids to 2.3 percent in second quarter

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GDP growth further skids to 2.3 percent in second quarter

Arthur Fuentes,

ABS-CBN News

Published August 07, 2026 10:06 AM PHT

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Updated August 07, 2026 10:16 AM PHT

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GDP

economic growth

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