The Asian Development Bank has lowered its growth outlook for the Philippines but still expects the country to be Southeast Asia’s second-fastest major economy. The ADB now projects GDP growth of 5% this year and 5.3% in 2026, both below government targets, after a weaker-than-expected 4% expansion in the third quarter and a 10.7% drop in January–September public works spending. The bank cited weak and corruption-hit infrastructure outlays and natural hazards as key drags. Ho