ADB signals PH growth downgrade

The Manila-based Asian Development Bank (ADB) is signaling a slowdown in its host country, the Philippines, by lowering its economic growth forecasts for both 2025 and 2026.

- Ricardo M. Austria

While not disclosing the actual figures, “It is trending down from what we had earlier released,” ADB country director for the Philippines Andrew Jeffries told reporters on the sidelines of the European Chamber of Commerce of the Philippines’ (ECCP) 2026 Philippine Economic Outlook forum last week.

To recall, the latest ADB Asian Development Outlook (ADO) in September projected the Philippines’ 2025 gross domestic product (GDP) growth at 5.6 percent, unchanged from the July forecast, while the 2026 growth outlook was revised downward to 5.7 percent from 5.8 percent previously.

It is notable that the September ADO forecast falls within the government's target range of 5.5 to 6.5 percent for this year but is below the target of six to seven percent for 2026.

Jeffries stressed that the upcoming December ADO would reflect a downgrade in the outlook, noting that it is “revising downward” and is “likely” to come in below the government's growth targets for this year.