Malacañang on Tuesday expressed confidence that the upcoming holidays will boost the country’s economic growth in the fourth quarter of the year.
These remarks came in response to the 4 percent economic growth recorded for the third quarter of 2025, the slowest pace seen in four years.
This was the weakest gross domestic product (GDP) performance since early 2021, when the economy shrank by 3.8 percent because of strict COVID-19 lockdowns.
‘According to the DBM [Department of Budget and Management], we talked to them, and they said that we expect GDP growth to improve in the coming, this last quarter of the year, because we have expected private holiday spending supported by government programs, as well as growth in exports,’ Palace Press Officer Claire Castro said at a briefing.
‘And the president’s order is to use the P1.307 trillion program budget correctly so that business sectors can see that the government is spending correctly, and this will boost the economy and consumption and investment,’ she added.
Castro also echoed Economy, Planning and Development Secretary Arsenio Balisacan’s recent statements that typhoon disruptions have impacted the economic growth.
‘These disasters have definitely slowed down economic growth,’ she said.
Asked whether the ongoing investigation into the flood control projects also affected the economy, she responded in the affirmative.
‘As far as I know, there is an impact. There is an impact. But again, I will provide the details when they have a report,’ she added.