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Philippine scandal puts state projects on hold – and energy consumption drops, too

Our ASEAN Premium database is unlocking more signals from one of the world’s most dynamic regions. In this case, we examine the Philippines, where a scandal involving large flood-control projects is having profound consequences on the real economy.

Allegations of corruption began in 2024 and were more widely publicized in mid-2025 – and that’s when trends change in our chart.

Oil imports and electricity use started shrinking as major projects were put on hold. Government capital outlays tipped into a prolonged period of year-on-year contraction.