The Philippine economy just hit a jarring speed bump—growing a mere 2.8% in the first quarter. That's the slowest pace since the pandemic lockdowns brought the country to its knees.
What's behind this sudden stall? A corruption scandal has rattled confidence, sapping the life out of economic activity just as recovery seemed within reach.
Meanwhile, the Middle East conflict has sent oil prices soaring, squeezing businesses and households alike. The twin shocks have turned what should have been a steady climb into a stumble.
For millions of Filipinos, this means slower job creation, thinner wallets, and a longer road back to normal. The numbers don't lie—the engine is sputtering.
Behind closed doors, officials are scrambling to contain the fallout. But with global headwinds and domestic fractures, the path forward looks anything but smooth.
