ADB to cut Philippines growth forecasts

The Asian Development Bank (ADB) is lowering its growth forecasts for the Philippines for the current year and 2026 following the sharp slowdown in the country’s third quarter economic growth performance.

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“We are revising things downward,” ADB country director for the Philippines Andrew Jeffries told reporters on the sidelines of the European Chamber of Commerce of the Philippines’ 2026 Philippine Economic Outlook forum.

He said the new growth forecasts would be reflected in the Asian Development Outlook report to be released on Dec. 10.

This means that for this year, the new growth forecast is expected to be below the government’s 5.5 to 6.5 percent growth target for 2025.

In a report released in September, the ADB said it expected the Philippine economy to grow by 5.6 percent for this year.

The same report showed that the ADB trimmed its 2026 growth forecast to 5.7 percent from 5.8 percent previously.