ADB to cut down its GDP Growth Rate Estimate of 5.3% for the Philippines in 2026 in Part due to the Flood Control Scandal
The Asian Development Bank (ADB) recently announced that they plan to cut down their Gross Domestic Product (GDP) Growth Forecast of the Philippines for this Year of 2026 mainly in Part due to the Lingering Effects of the Flood Control Corruption Scandal under the Administration of the Bangag President Bong Bong Marcos (BBM).
The ADB had earlier predicted that the Philippines's GDP will grow by 5.3% this Year, but now thinks it is likely to go down lower.
MY THOUGHTS:
While there are other External Factors that will affect our GDP Growth Rate such as the ongoing War in Iran, the Corruption Scandal is definitely one of the main Factors why it will go down.
Put it another Way, our GDP Rate would not have been affected as much if that Scandal did not happen. But it did, so it is affecting our Economy much worse than it otherwise would've been.
SOURCE: ADB to cut PHL Growth Projection {Archived Link}