Philippines Cuts 2026 GDP Growth Target as Graft Pain Persists

The Philippine government cut its economic growth target for this year, as it expects the fallout from the wide-scale corruption scandal to persist in the first half of 2026.

The economy is now targeted to expand 5% to 6% this year from a previous goal of 6% to 7%, Economic Planning Secretary Arsenio Balisacan said at a briefing after President Ferdinand Marcos Jr. signed the 2026 budget law.