Growth forecast
Days after the Philippines achieved upper-middle-income status, the government lowered its 2026 economic growth forecast to 3.5% to 4.5%. Economic managers cited domestic and external uncertainties including governance issues and geopolitical tensions.
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The Asian Development Bank has raised its 2026 growth forecast for South Korea to 1.9 percent, driven by rising exports and improved private consumption. This represents a 0.2 percentage point increase from its December prediction. The outlook matches 1.9 percent projections from the IMF and Korea Development Institute, while the Bank of Korea expects 2 percent.