Corruption Scandal to Slow Philippine Growth, Says Recto - BusinessWorld Online

Corruption scandal to slow Philippine growth, says Recto - BusinessWorld Online

THE PHILIPPINE ECONOMY may see a slowdown until early 2026 as the controversy over anomalous infrastructure projects dampens government spending, Finance Secretary Ralph G. Recto said on Tuesday. At a Senate hearing for the Department of Finance budget, Mr. Recto said growth likely slowed in the third quarter as President Ferdinand R. Marcos, Jr. implemented reforms amid the corruption scandal. “This (slowdown) could stretch until the first quar…

DOF: Tamed spending due to corruption slowing growth

The Philippine economy might fall short of meeting its full-year growth target, the Department of Finance said, as slower revenue collection and dampened government spending continue to weigh on the country’s expansion prospects.

Philippines’ finance chief says anti-graft drive could slow economy

He said there could be a slowdown in economic growth because of the slowdown in government spending. Read more at straitstimes.com.

Philippines Finance Chief Warns Graft Scandal Will Slow Economy

Philippine Finance Secretary Ralph Recto warned that the government’s clampdown on corruption in infrastructure projects could slow the economy until early next year, saying more interest rate cuts will bode well for the Southeast Asian nation.