Corruption scandal to slow PHL growth

THE PHILIPPINE ECONOMY may see a slowdown until early 2026 as the controversy over anomalous infrastructure projects dampens government spending, Finance Secretary Ralph G. Recto said on Tuesday.

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At a Senate hearing for the Department of Finance budget, Mr. Recto said growth likely slowed in the third quarter as President Ferdinand R. Marcos, Jr. implemented reforms amid the corruption scandal.

“This (slowdown) could stretch until the first quarter of next year,” he said. “The recent flood control controversy may have cast a shadow on public spending, but this is the start of a cleanup, and we only see upside over the next few months.”

In July, Mr. Marcos flagged irregularities in flood control projects and launched the sumbongsapangulo.ph website, which lets citizens report substandard or nonexistent public works.

“The President himself is the whistleblower of this controversy. And his message is clear: We will never turn a blind eye to corruption,” Mr. Recto said.