ADB to lower PH economic growth forecast for 2025, 2026

The Asian Development Bank (ADB) is likely to downgrade its economic growth forecasts for the Philippines for 2025 and 2026.

ADB country director for the Philippines Andrew Jeffries confirmed the downward revision, stating it is "trending down" from earlier projections.

This revision comes as a graft scandal has impacted investments and public spending, contributing to the Philippine economy's slowest expansion in four years during the third quarter.

The adjusted forecast for 2025 is anticipated to fall below the Philippine government's target range of 5.5 to 6.5 percent, and possibly below the government target.

Previously, the ADB had projected a 5.6 percent growth for the Philippines in 2025, and 5.7 percent for 2026.

The ADB's projected growth rate for 2026 is also lower than the government's target of six to seven percent.

The revised forecasts will be officially published in the upcoming Asian Development Outlook report on December 10.