• S&P Global Ratings slightly improved its growth outlook on the Philippines for 2026 on expectations of resurgent consumption as inflation is projected to soften beyond 2024.
  • The global debt watcher now forecasts the country’s gross domestic product (GDP) to expand 6.5 percent in 2026, a tad higher than its prior projection of 6.4 percent.
  • If realized, economic growth in 2026 would match the lower end of the Marcos administration’s target of 6.5- to 8-percent expansion for that year. While the adjustment was “minimal,” S&P expects more benign inflation to power up consumption.