PHILIPPINE economic growth could slow to as low as 4% this year if the Middle East war escalates further as higher pump prices and second-round inflation pressures will weigh on consumption, Fitch Solutions unit BMI said.
“In our escalatory scenarios, we see further scope for downward growth. Under our level three scenario, we expect growth to slow to around 4%, down from 4.4% in 2025, which will mark the weakest upturn since 2011, excluding the pandemic period,” BMI Asia Country Risk Analyst Brandon Ong said in a webinar on Tuesday.
This forecast is well below the government’s 5%-6% target.
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