Unicapital Group recently hosted members of the media for its 2026 Start-of-Year Outlook: When The Dust Settles on February 24, a market briefing that provided insights into the Philippine economy, policy developments, and investment opportunities for the year ahead.
Held at Milky Way Café in Makati City, the event gathered journalists, market observers, and financial commentators for a focused discussion on how the Philippine economy is positioned as it moves into a new phase of recovery. The outlook briefing forms part of Unicapital’s regular engagement with the media, with sessions held twice each year to provide updates on economic trends and market developments.
A Conversation About What Comes After Uncertainty
The theme When The Dust Settles captured the essence of the discussions during the briefing. After a period marked by global volatility and moderated economic growth, the session focused on identifying the clearer signals emerging as the broader economic landscape begins to stabilize.
Unicapital emphasized that the Philippines enters 2026 at a pivotal moment. With improving policy clarity, steady domestic consumption, and renewed momentum in infrastructure spending, the country’s economic foundation remains resilient despite recent headwinds.
Insights From Research and Economic Leaders
The outlook presentation featured perspectives from both the private sector and government, offering a balanced view of the country’s economic trajectory.
Leading the discussion was Wendy Estacio-Cruz, Head of Research at Unicapital Securities, Inc., who shared the firm’s outlook on macroeconomic conditions and the Philippine equity market. She was joined by Peter Louise D. Garnace and Jemimah Ryla R. Alfonso, Equity Research Analysts at Unicapital Securities, who discussed sector developments and key investment themes shaping the local market.
The event also featured Dennis D. Lapid, Managing Director of the Department of Economic Research at the Bangko Sentral ng Pilipinas, who provided insights on monetary policy and the central bank’s ongoing efforts to maintain price stability in a changing economic environment.
Recovery Prospects Anchored by Infrastructure and Governance
During the briefing, Unicapital shared its outlook that the Philippine economy may regain stronger momentum in 2026, supported by the continued rollout of infrastructure projects and improved policy execution. These factors are expected to reinforce domestic demand and help rebuild investor confidence.
Despite recent moderation in economic growth, the country’s macroeconomic fundamentals remain intact. Household consumption continues to serve as a major driver of economic activity, supported by steady remittances from overseas Filipinos and sustained revenues from the business process outsourcing sector.
Stable Monetary Conditions Support the Growth Outlook
The discussion also highlighted the role of monetary policy in sustaining economic stability. With inflation remaining manageable, the Bangko Sentral ng Pilipinas retains flexibility to support domestic demand while maintaining price stability.
Lapid noted that while some supply driven price pressures may arise, these are expected to be temporary. Continued vigilance and prudent policy management remain essential in ensuring that inflation stays within manageable levels while economic growth continues to progress.
This environment provides a supportive backdrop for both business activity and investment planning.
Opportunities Emerging in the Philippine Equity Market
Unicapital also shared its constructive outlook for the Philippine equity market. Current valuations remain below long term historical averages and regional peers, suggesting that cautious sentiment may have created opportunities for long term investors.
The firm noted that the Philippine Stock Exchange Index could see potential upside as economic conditions improve and earnings momentum strengthens. With valuations trading below historical norms, Unicapital believes the market may present attractive opportunities as investor confidence gradually returns.
The research team emphasized a strategy that balances resilience and opportunity, focusing on companies with strong balance sheets and clear earnings visibility.
Remaining Mindful of External Risks
While the domestic outlook remains constructive, Unicapital also emphasized the need to remain attentive to global developments that could influence market conditions. Geopolitical tensions, global interest rate movements, and shifts in trade dynamics continue to shape the broader economic landscape.
Even with these uncertainties, the Philippines enters 2026 with stronger economic buffers and a more resilient foundation, enabling it to navigate potential volatility while sustaining its recovery path.
Continuing the Dialogue on Market Developments
Unicapital’s Start-of-Year Outlook briefing reflects the firm’s ongoing commitment to fostering informed conversations about the Philippine financial landscape. By engaging with members of the media and market observers through regular briefings, the firm helps provide context to economic developments and encourages deeper understanding of the forces shaping local capital markets.
Looking Ahead With Greater Clarity
As discussions during the briefing highlighted, economic cycles naturally bring periods of adjustment. Yet with improving policy clarity, renewed infrastructure momentum, and resilient domestic demand, the Philippines appears positioned to move forward with greater stability.
As the dust settles, the outlook suggests that the country’s economic fundamentals remain firmly in place, offering a clearer path toward sustained growth in the years ahead.
About Unicapital Group
The Unicapital Group is a full-service investment house offering a wide array of products and services, including–but not limited–to investment banking, financing and lending, treasury services, and securities brokerage. Founded in 1976, Unicapital is a leading independent financial services provider that enables and supports the growth of mid-cap and high-growth companies in emerging industries. The group provides an integrated, innovative, and customized range of products and services through the three companies that comprise the group: Unicapital Inc., Unicapital Finance and Investments, Inc., and Unicapital Securities, Inc.
About Unicapital Securities, Inc.
Unicapital Securities (USI) is a leading securities brokerage, also offers mutual funds distribution. USI started its trading operations in the PSE in 1997, and launched its online trading platform, UTrade, in 2014. Through UTrade, USI provides investors with a seamless trading experience of stocks and mutual funds, on top of equity research, market education, and margin facility services.
