Philippine Senate panel eyes spending push after weak economic growth

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2 hours ago

Philippine Senate panel eyes spending push after weak economic growth — Senate targets growth push

The Philippine Senate is preparing targeted measures to speed up public spending after the economy posts a weaker-than-expected 2.1% growth rate in the third quarter of 2026. The planned response centers on infrastructure and social protection as lawmakers seek to counter pressure from high energy costs and the effects of a strong El Niño.

Highlights

Philippine third-quarter GDP growth slowed to 2.1%, the weakest since Q1 2021, prompting calls for increased government spending.
Senate President Sherwin T. Gatchalian announced a special committee to accelerate infrastructure project spending in response to weak economic growth and high energy costs.
The Senate will prioritize funding for social protection programs and budget items with positive effects on daily life to support domestic demand.

Senate response to third-quarter slowdown

According to BusinessWorld Online, Senate President Sherwin T. Gatchalian says a special Senate committee will prioritize calibrated policy interventions to accelerate spending and help stimulate the economy. He describes the 2.1% gross domestic product growth in the third quarter as dismal and says it calls for aggressive pump-priming of the local economy.

The third-quarter result marks the Philippine economy's weakest performance since the COVID-19 pandemic, when GDP contracted 3.8% in the first quarter of 2021. Gatchalian links the latest slowdown to elevated energy costs and the impact of a very strong El Niño on local productivity.

Infrastructure and social programs in focus

The ad hoc Committee on Reinvigorate Investment and Sustainable Economic Growth will focus on accelerating spending, particularly for needed infrastructure projects, according to Gatchalian. He says the Senate will also prioritize social protection programs for vulnerable sectors as part of the policy response.

The Senate also plans to give priority to funding items in the proposed budget that can have a positive effect on the daily lives of ordinary Filipinos. The spending focus signals a broader effort to support domestic demand and cushion households as the country manages slower growth and cost pressures.

Our earlier article on planned Philippine sovereign bond reforms explained how changes to peso government bond pricing and prospective index inclusion could improve liquidity and broaden the investor base. It also stressed that market modernization alone won’t automatically lift investment or productivity, and that the real payoff depends on fiscal credibility and how any borrowing-cost gains are channeled into well-executed infrastructure and other productivity-boosting programs.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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