THE PHILIPPINES will likely continue to be an underperformer in the region, with Singapore-based Oversea-Chinese Banking Corp. (OCBC) projecting it to be the second-slowest growing economy in ASEAN-5 until 2027.
In an Aug. 24 report, OCBC Group Research slashed its 2026 gross domestic product (GDP) growth forecast for the Philippines to 3.2% from 3.8% previously.
This would position the Philippines as the second-slowest growing economy in ASEAN-5, and the only country seen to face a sharp slowdown from last year’s 4.4% growth.
The ASEAN-5 (Association of Southeast Asian Nations) region includes the Philippines, Indonesia, Malaysia, Thailand, and Vietnam.
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