SM Investments Corp VP comments on Philippine household spending and growth pressures

Robert Dan Roces was appointed Vice President at SM Investments Corp in the Philippines on October 1, 2026. During an economic forum, Roces commented on consumer spending, stating that while rising household spending reflects income gains, it is not proof that Filipino families are financially secure. He cited information showing that household spending increased faster than income across family income groups between 2023 and 2025.

Economists warned that the Philippine economy faces pressure from elevated inflation, weak private investments, and fragile household finances. Michael Ricafort, chief economist at Rizal Commercial Banking Corp., noted that recent economic performance has weakened from previous growth rates of around 5 to 6 percent, underscoring the need for structural reforms.