Philippine GDP growth slows to 2.8% as Iran war batters economy
Economy
Economist predicts further slowdown in Q2 as inflation soars
Jeepney drivers gather to receive government cash aid in Manila on April 16. Transportation workers are among those hit hardest by soaring fuel prices in the Philippines, which imports 98% of its oil needs. © Reuters
RAMON ROYANDOYAN
May 7, 2026 11:06 JST
Updated on May 7, 2026 13:07 JST
MANILA — The Philippine economy grew 2.8% on an annualized basis in the January-March period, the slowest quarterly growth in five years, due to fallout from the Iran war, the government said Thursday.
