BSP slashes 2026 growth forecast

Due to the pessimistic outlook from businesses related to flood control concerns, the Bangko Sentral ng Pilipinas (BSP) has lowered its growth projection for next year to 5.3 percent, which is below the reduced target of six to seven percent.

- By DERCO ROSAL

ASIAN BANKER HONORS BPI FOR SME SERVICE -- The Bank of the Philippine Islands (BPI) has been recognized as the Best Small Business Banking Service in the Philippines at The Asian Banker Philippines Excellence in Retail Finance and Financial Technology Awards 2025. The award highlights BPI Business Banking's commitment to empowering Small and Medium Enterprises (SMEs) with financial solutions described as madali (easy), magaan (light/affordable), and mabilis (fast). In photo (from left): Christian Kapfer, Research Director of The Asian Banker; Maricris San Diego, Marketing, SPPI, Products, and Campaigns Division Head of BPI Business Banking; Ma. Genalyn Paulino, Small Business Credit Division Head of BPI Business Banking; Dominique Ocliasa, Head of BPI Business Banking; Cara Funk, Marketing Head of BPI Business Banking; and Urs Bolt, International Resource Director of The Asian Banker.

BSP Governor Eli M. Remolona Jr. revealed in a One News PH interview on Friday, Oct. 10, that the central bank previously projected the gross domestic product (GDP) growth to clock in at a below-target 5.6 percent in 2026.