Kiel Institute for the World Economy (IfW) raised its 2026 GDP growth forecast for Germany to 1.3% from 0.8% and left the 2027 forecast unchanged at 1.0%.

The Ministry of Industry and Information Technology and nine other ministries endorsed the 15th Five-Year Plan for Promoting SME Development, calling for diversified financial products and an integrated financing facilitation system linking loans, equity, bonds, insurance and guarantees. The plan mandates SME financing promotion targeted at key industrial chains, expands insurance product development to cover SMEs' R&D, commercialization and industrialization risk needs, and supports futures firms providing streamlined, efficient risk-management services to SMEs.

Philippine authorities are reassessing a planned large five-year bond sale later this month after peso depreciation and higher yields pushed up borrowing costs. The finance minister said the June-designed plan is being reviewed to keep financing flexible amid worsening Middle East tensions; a decision on this month’s auction will be announced shortly. Fund managers in Manila say persistent inflation means the central bank may continue raising rates, leaving investors cautious, delaying entries and potentially reallocating into next year.