THE Philippine economy remains strong despite recent governance challenges and continuing global uncertainties, according to the country’s socioeconomic planning chief.
In a statement on Thursday, Arsenio M. Balisacan, Department of Economy, Planning, and Development (DEPDev) Secretary said the country’s ‘sound’ macroeconomic fundamentals-‘sustained growth, easing inflation, a healthy labor market, a manageable fiscal deficit and public debt, a broadly stable currency and external position, and a robust banking system-continue to anchor our resilience.’
The country’s chief economist is banking on ‘hard-won’ reforms that were passed, implemented, and sustained over the years which he said have ‘consistently strengthened’ the Philippine economy’s ability to weather periods of domestic or external turbulence.
Amid ‘political noise’ and global headwinds, Balisacan stressed: the economy continued to expand: although growth moderated to 4 percent in the third quarter, full-year growth for 2025 has so far averaged 5 percent.
The socioeconomic planning chief said the Philippine economy’s potential growth remains at least 6 percent annually, assuming that it is supported by a ‘robust labor force, steady capital investment, productivity gains, and ongoing technological progress.’
‘Our medium-term targets reflect this capacity. While short-term fluctuations and external headwinds may affect immediate outcomes, the economy’s overall trajectory remains firm,’ Balisacan underscored.
Moving forward, he said the government will continue to deploy fiscal, monetary, financial, technological, and social-protection policies, together with key legislative measures, to keep actual growth aligned with this potential.
‘At the same time, we have been laying down the necessary investments to future-proof the economy amid environmental, technological, and geopolitical disruptions,’ added Balisacan.
He said the government is strengthening economic foundations, particularly recognizing that investor and consumer confidence are necessary to sustain growth.
Further, Balisacan said the government continues to prioritize human capital development.
‘Laws policies, programs, and projects in health, education, skills development, and social protection are being implemented or expanded to ensure that Filipinos are equipped to navigate the challenges of a rapidly evolving economic landscape,’ said the country’s socioeconomic planning chief.
As these efforts continue, he said DEPDev is prioritizing actions to enhance the quality of public investments-ensuring that the nation’s resources are directed toward programs and projects with the ‘greatest impact.’
‘We are strengthening planning and budgeting linkages; improving program convergence and project coordination; scaling up strategic monitoring and evaluation (M and E); and expanding capacity building in planning, project appraisal, investment programming, and M and E.
‘These initiatives form part of the government’s broader e?orts to reinforce governance and strengthen institutions. We call on our partners in business, civil society, and the international community to continue working with us as we progressively realize our shared aspirations. Together, we can build and sustain partnerships founded on trust, accelerate development, and ensure that progress meaningfully reaches every Filipino,’ Balisacan said.