The Philippine economy grew 2.8 percent in the first quarter of 2026, its slowest pace since the pandemic, the Philippine Statistics Authority (PSA) said Thursday.
The figure was sharply lower than the 5.4-percent growth recorded in the first quarter of 2025.
PSA Undersecretary Claire Dennis Mapa said the latest reading was the weakest since the first quarter of 2021.
“This is the lowest, the 2.8% this Q1 2026, [is the] lowest since the first quarter of 2021,” Mapa said.
Among major sectors, services grew 4.5 percent year-on-year, while agriculture, forestry and fishing contracted 0.2 percent and industry slipped 0.1 percent.
Department of Economy, Planning, and Development Secretary Arsenio Balisacan said controversies surrounding flood control projects, delays in the release of the national budget and conflict in the Middle East contributed to the slower economic growth.
Balisacan said the government is also preparing for the possible effects of El Niño.
“In anticipation of this (El Niño) risk, we support the reactivation of the El Niño Task Force to ensure a coordinated national response aimed at minimizing economic losses and protecting livelihoods.”