S&P, AMRO slash Philippine growth projections

S&P GLOBAL RATINGS and the ASEAN+3 Macroeconomic Research Office (AMRO) slashed its Philippine growth projections this year and in 2026, following the slower-than-expected growth in the third quarter.

In a report dated Nov. 23, S&P Global cut its Philippine gross domestic product (GDP) growth projection to 4.8% this year from its earlier projection of 5.6%, below the government’s 5.5-6.5% target. This is slightly higher than S&P’s projected 4.6% average growth for Asia-Pacific this year.