By Justine Irish D. Tabile, Senior Reporter
THE Philippine economy grew by a weaker-than-expected 2.8% in the first quarter, the slowest pace since the pandemic, as the fallout from a corruption scandal and soaring oil prices triggered by the Middle East conflict dampened economic activity.
Data from the Philippine Statistics Authority showed that gross domestic product (GDP) expanded by 2.8% in the January-to-March period, significantly slower than the 5.4% expansion in the same quarter last year.
This was also well-below the 3.4% median forecast of 21 economists in a BusinessWorld poll last week, and slower than the revised 3% GDP growth in the fourth quarter of 2025.
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