Philippine central bank governor says Q2 growth number is disappointing

Business Recorder reported that Eli Remolona, governor of the Philippine central bank, described the latest economic growth figure as disappointing on Friday. He added that the picture was not as bleak as the number suggests. The Philippine economy expanded 2.3% in Q2 compared with a year before, its slowest pace since 2021.

Weaker domestic demand and a construction slump were behind the slowdown, according to the report. The story is framed entirely around the Philippine economy and does not name any listed Pakistani company. The governor's remarks indicate the central bank saw the reading as a weak result rather than a severe downturn. The report includes no company-specific details, so its direct relevance to listed firms is limited.