Economy

The Philippine economy is poised for a strong rebound in 2024, with the International Monetary Fund (IMF) projecting a 6% growth rate despite global economic challenges. This optimistic outlook comes after a recent visit by an IMF team to Manila, where they assessed the country’s economic performance and future prospects. Led by Elif Arbatli Saxegaard, … Read more

The Philippine economy continues to defy external challenges, with robust growth projected for 2024 and 2025, according to the International Monetary Fund (IMF). Resilient Growth Amid Turbulence In its assessment following a visit to Manila, the IMF team led by Elif Arbatli Saxegaard commended the country’s strong economic performance. Despite global shocks, inflationary pressures, and … Read more

In a recent fireside interview at the Malacañan Palace, President Ferdinand R. Marcos Jr. of the Philippines highlighted the critical need to distinguish between economic and political spheres to foster economic growth while preserving political stability. Speaking at the World Economic Forum (WEF), President Marcos articulated that economic activities should be pursued as long as … Read more

After only 1 and a half years in office, the administration of President Ferdinand R. Marcos Jr. has already completed 51 percent of the target 131,410.66 kilometers of the government’s Farm-to-Market Road Network Program within six years. “I am happy to share a significant update sa ating Farm-to-Market Road Network program. Ang ating dapat na … Read more

Dubai, United Arab Emirates, 4 December 2023 – The Government of the Philippines’ Department of Environment and Natural Resources announced yesterday at COP28 that it is joining the World Economic Forum’s Blue Carbon Action Partnership to accelerate the restoration and conservation of coastal ecosystems. South-East Asia is home to almost one-third of mangroves globally, with nearly … Read more

President Ferdinand R. Marcos Jr. said on Friday that he and Chinese President Xi Jinping both agreed that the present challenges in West Philippine Sea should not be the sum of the two countries’ relationship as they met on the sidelines of the Asia-Pacific Economic Conference (APEC) summit. President Marcos made the remarks when asked … Read more

Farmers from Negros Occidental proved that local rice can be sold at Php 25 per kilogram, an initiative aligned with the aspirations of President Ferdinand R. Marcos, Jr. for a more affordable staple rice for Filipinos. Members of the Federation of Irrigators Association of Central Negros-Bago River Irrigation System (FIACN-BRIS) sold rice for Php 25 … Read more

The Marcos government is rolling out next month the Lifeline Rate program that will benefit qualified low-income households to help them pay their electricity bills. The Lifeline Rate is a subsidized rate given to qualified low-income electricity customers who are unable to pay their electricity bills at full cost. Among the households who can apply … Read more

MANILA, June 7, 2023 – Improving the efficiency of social protection in the Philippines remains essential to protect the poor and most vulnerable from economic shocks as the country grapples with global uncertainties and domestic risks including high inflation, according to the Philippines Economic Update (PEU) released today by the World Bank. Bucking global trends, strong domestic demand … Read more