Category: Business Mirror

The Philippine Coconut Authority (PCA) forged ties with local governments, schools, and stakeholders to boost its massive coconut planting program.

The signing of the memoranda of agreement (MOA) was part of the intensified rollout of MCPP to plant 100 million coconut palms by 2028.

The MOA was signed by Local Government Units (LGUs), State Universities and Colleges (SUCs), farmer groups, alongside the Contract Signing with Civil Society Organizations (CSOs).

PCA Administrator Dexter Buted said this move marked a shared commitment to restore farms, empower coconut farmers, and sustain livelihoods across generations.

‘When [President Marcos] laid down the vision to plant 100 million coconut palms by 2028, he was setting a national vision of revitalized farms, empowered farmers, and a sustainable agricultural economy,’ Buted said.

He said the program is a bid to replace senile and damaged trees, expand productive areas, and rejuvenate hope in the industry.

In 2024, Buted reported that the PCA planted 8.6 million coconut seedlings, which will increase to 15.3 million in 2025, and 25.4 million annually from 2026 to 2028.

The program will be reinforced by hybridization, enhanced seed production centers, and the propagation of high-yielding, climate-resilient coconut varieties.

For his part, Agriculture Secretary Francisco Tiu Laurel Jr., represented by Undersecretary Roger Navarro, affirmed the agency’s support, citing the coconut sector as a critical driver of both food security and national economic growth.

Anchored on a whole-of-the-nation approach, the agreements outline shared responsibilities of PCA and its partner agencies.

LGUs and SUCs will spearhead nurseries and provide technical support, while DA-accredited CSOs will manage the supply, handling, transport, and delivery of quality coconut seedlings to designated drop-off points.

‘These agreements institutionalize transparent fund utilization, adherence to agricultural standards, and efficient grassroots implementation,’ the PCA said.

Furthermore, partners also signed a Pledge of Commitment affirming unified support for the PCA in executing its national mandate.

MCPP operates alongside the Coconut Fertilization Program (CFP), through the Coconut Farmers and Industry Development Plan (CFIDP). This targets nutrient-deficient palms to ensure long-term sustainability and productivity for coconut farmers banking on the industry.

‘As the ink dried on the agreements, the ceremony stood as a unified national commitment to advance the coconut sector as a key pillar of food security, inclusive growth, and economic resilience.’

PCA noted that MCPP is not set in motion as a strategic force for building a more robust, sustainable, globally competitive coconut industry.

Araneta City (ACI Inc.) has chosen First Gen Corp. (First Gen) to provide renewable energy (RE) to some of its properties under the government’s Retail Aggregation Program (RAP) and the Retail Competition Open Access (RCOA) program.

Under the agreement signed last October 14 by representatives of Araneta City and First Gen, the latter would pool the power demand of over 200 retail and service tenants in Ali Mall and New Frontier Theater, including the events and concert hall, as well as the over 9,000 apartments in 18 residential towers of Manhattan Gardens, and directly supply these aggregated customers with renewable energy (RE) from First Gen’s Pantabangan-Masiway and Casecnan Hydroelectric Power Complex in Nueva Ecija.

‘Each of our properties has energy demands, and switching to retail aggregation and using RE is a strategic move that will enable us to improve energy efficiency and effectively manage our electricity costs,’ said Antonio Mardo, ACI Inc. senior vice president of operations, ‘We hope that our relationship with First Gen will continue over the years and even expanded.’

RAP enables multiple electricity end-users within the same contiguous area to combine their power demand and collectively purchase electricity directly from a supplier while RCOA allows consumers with a monthly peak demand of at least 500 kilowatts over the past year to choose their own electricity suppliers.

By aggregating end-users and choosing First Gen, ACI not only secures cost-efficient electricity but also reduces the carbon footprint of its operations with RE usage.

Spanning 35 hectares in the heart of Metro Manila, Araneta City is a trailblazer in commercial and retail developments in the Philippines. Known as the City of Firsts, Araneta City has been a pioneer in property development, seamlessly integrating retail, entertainment, residential, hospitality, and office spaces for over 70 years.

‘We are privileged to transition Ali Mall, an iconic retail landmark, to retail aggregation and RE. We are aligned in our common goal to make a decarbonized and regenerative future iconic and look forward to continuing to partner with Araneta City in its sustainability journey,’ said Carlo Vega, First Gen Chief Customer Engagement Officer.

First Gen, the leading RE producer in the Philippines, has 300 megawatts (MW) of generating capacity from the Pantabangan-Masiway and Casecnan hydro complex, as well as the Agusan River facility in Bukidnon. Its RE portfolio also includes 1,300 MW of capacity from geothermal, solar and wind. In partnership with Prime Infrastructure Capital, First Gen also operates four gas-fired power plants with a combined capacity of 2,017 MW.

These facilities support baseload requirements and help offset the intermittency of renewable sources, helping stabilize power supply and enhance energy security.

Basic Energy Renewable Corp. (BERC), a wholly-owned subsidiary of Basic Energy Corp. (BEC), and ACMobility, the Ayala Group’s mobility platform, have partnered for the installation and management of electric vehicle charging stations (EVCSs).

The partnership, dubbed Basic RePower-ACMobility charging facilities, will debut at the Total stations along South Luzon Expressway (SLEX Northbound) in Sta Rosa, Laguna; Total North Luzon Expressway (NLEX) in Apalit, Pampanga; and Ecooil EDSA in Mandaluyong. This pilot site will serve as a model for future installations across the country, demonstrating how partnerships among key energy and mobility players can accelerate the Philippines’ shift toward electrified transport.

The partnership also includes a development of a platform called Evro that allows drivers can easily locate, monitor, and pay for their charging sessions.

‘This partnership with ACMobility signifies Basic Energy’s strong commitment to advancing clean energy and sustainable transport,’ said Basic Energy CEO Oscar de Venecia, Jr., adding that the partnership will boost BEC’s Green Energy E-Transport Program and related e-charging facilities.

Continuing from last week, children notice kindness, and they mirror how we value those who serve. My husband is a great example of showing that acts of gratitude, whether big of small, is important. He would gather all of his old running shoes and shirts regularly and share it to either our drivers, guards or even employees in the office. Whenever there is a typhoon is his home province, he would be the first to ask what we things in the house can we send, on top of the monetary support he gives.

I saw that same spirit reflected in our daughter Meagan. In her valedictory address, she offered gratitude not only to her teachers but also to those who made her daily life at school feel like home. Below is an excerpt of her speech:

‘I’d like to start by saying that I did not come out of the womb this way. I was not born an academic weapon. It has been a really difficult road to get to this point. But when my beloved Chi Chi, my auntie, is asked by her friends, ‘Oh, how does Meagan do this?’ she always says that it takes a village-because it truly did take a village.

‘And how lucky I was that my village included Kuya Marlon, welcoming me with a smile and a good morning every day of school since the third grade. Another big part of the village that raised me, apart from the people who welcomed me every day, are the people who raised me in my second home-my teachers.’

Hearing those words as a mother, I couldn’t help but feel a lump in my throat. Gratitude, when taught early, finds its own voice. It reminded me that no achievement stands alone; it is always rooted in a web of kindness, humility and support.

When I see both my children joke around with our drivers or the guards in school, or think about how to help them, I am proud that they know respect and gratitude belong to everyone-especially to those who quietly help us in our everyday lives. It warms my heart that the granddaughter of Marcus’ yaya and our driver’s daughter were both named after Meagan. These small, meaningful connections-acts of naming, of remembering-show that gratitude, when lived, ripples outward.

In today’s fast-paced world, it is easy to think that parenting is a competition-who’s more hands-on, who bakes from scratch, who manages to juggle everything with a smile. But the truth is, parenting has never been a solo act. It has always been communal. From our parents and siblings, to teachers, yayas and even neighbors, every family’s rhythm depends on teamwork. Every act of care, no matter how ordinary, becomes a small miracle that keeps the family whole.

Our helpers often carry the emotional weight of our absence. They are the ones who comfort our children when we are in meetings, who ensure the pets are fed when we are away, who quietly remember which day is P.E. day or who likes extra rice for lunch. I am not always there for all of my son’s games but our driver, whether I am present or not, always finds a corner in the court to cheer him on. Afterward, he would tell me how my son played, what moves he made, and how the game went. Hearing his account, filled with pride and excitement, makes my son feel seen and supported.

Gratitude, I’ve learned, is not a reaction to something extraordinary-it is a rhythm we choose daily. It does not need to wait for big occasions or milestones. It lives in how we call our helpers by name, how we make small talk in between tasks, or how we make sure our staff have their own moments of rest. Even saying, ‘Thank you for waiting’ or ‘Ingat sa pag-uwi’ are quiet affirmations that what they do matters. In many ways, these caregivers are our extensions of safety and love. They are the bridge between the spaces we cannot always fill. They help us nurture our families not because it’s part of their job description, but because they choose to care.

As this Gratitude Series comes to a close, I am reminded once again that parenting is never a solo act. It is a shared mission woven through countless unseen acts of love. The yayas who calm our children, the drivers who bring them home safely, the guards who greet them with a smile-they are all part of the our support system that allows us to focus, to grow, and to be present for what matters most.

So today, I invite you to look around your home and think about your own story. Say ‘thank you’ not just in words but with genuine attention. Listen when they speak. Ask about their families, their dreams. Let your children see you practicing gratitude not as a ritual but as a way of life.

Because one day, when our children become adults, they will carry not only our love but our example. They will remember how their parents valued the people who made life smoother, kinder, and more possible. And when they too lead families or teams of their own, they will pass forward that same humanity.

Parenting with gratitude means recognizing that every helping hand is a blessing-and that sometimes, the quietest hearts make the loudest difference.

FIDEL CONCEPCION stood his ground and delivered a steely performance that brought him within striking distance of a long-awaited breakthrough on the Philippine Golf Tour.

In searing heat and on the unforgiving fairways of the Apo Golf and Country Club in Davao, Concepcion produced the day’s lone under-par card-a gritty 71-to seize the solo lead at four-under 212 to move three shots clear of veteran Elmer Salvador.

‘Tomorrow [Friday], I’ll have a chance to do something I’ve never done before, and it’s a pretty good opportunity to keep proving to myself that eventually, it will happen,’ said Concepcion, who admitted that the pressure came more from within than from the local contenders.

‘There’s a lot more pressure coming from myself than from handling the locals,’ he said. ‘But as long as I can manage that internal pressure, I should be okay.’

To finally break through in the P3.5 million championship, Concepcion said his focus would be simple: ‘keep the ball in play.’

‘If you hit the wrong side of the fairways or the greens, it’s pretty tough to make pars,’ he explained as he readied himself to close in on his first title that will be worth P630,000.

Tied with James Ryan Lam after 36 holes, Concepcion faltered with a 37 on the front nine as the lead changed hands almost after every hole, but regained momentum with a birdie on No. 10 to move back in front, then solidified his position with another birdie on the par-five 13th.

As Davao standouts Salvador, Tony Lascuña, Elee Bisera and Zanieboy Gialon and Lam faded one after another, Concepcion remained composed and focused, carding pars over the last five holes to secure a commanding three-stroke lead over Salvador.

But breathing down his neck are some of the country’s most accomplished pros-Salvador, Lascuña, Bisera and Gialon.

Local favorite Salvador, who matched par at the front but bogeyed the water-guarded par-three 11th, birdied the 14th to pull within two of Concepcion. However, he bogeyed the par-5 finishing hole to settle for a 73 and a 215.

Lascuña moved within one stroke after a frontside 36 but slipped with a double bogey on the 12th. He regrouped with two birdies against a bogey over the last six holes to also card a 73, joining Lam, who rallied with two late birdies in the final three holes to salvage a 75, at third place with 216, four shots behind Concepcion.

Bisera and Gialon also stayed within two strokes at the turn but faltered with miscues down the stretch, both finishing with 74s to drop to joint fifth at 217 alongside Korean Jaehyun Jung, who turned in an even-par 72.

Guido van der Valk, last year’s runner-up to Jhonnel Ababa in a sudden-death playoff, struggled with a 75 and slipped to eighth at 218, while Jerson Balasabas and Russell Bautista matched 73s for a share of ninth at 220 with American Collin Wheeler, who stumbled with a 74.

THE national government’s budget deficit expanded to P1.117 trillion as of the end of September, but still came in lower than the fiscal program.

Latest data from the Bureau of the Treasury (BTr) showed the shortfall increased by 15.15 percent to P1.117 trillion from January to September this year, from P970.2 billion in the same period last year.

Despite the wider gap, it remained 11.04 percent below of the government’s deficit target of P1.255 trillion for the nine-month period.

Revenues collected reached P3.366 trillion in the third quarter, up by 2.24 percent from P3.292 trillion a year ago.

However, this was marginally lower by 0.55 percent from the P3.385-trillion revenue goal set by the government.

Expenditures, meanwhile, grew by 5.18 percent to P4.484 trillion from the P4.263 trillion recorded in the third quarter last year.

This figure is also lower than the government’s spending target of P4.641 trillion during the period by 3.39 percent.

‘Narrower fiscal deficit in 2025’

According to BMI, a Fitch Solutions Company, the Philippines could see its fiscal deficit to slightly shrink to 5.5 percent of gross domestic product (GDP).

This is on the back of the government bringing in more revenues and lower spending due to the election spending ban and weak infrastructure disbursements.

‘Although we expect the spending shortfall to narrow, expenditure will probably end up undershooting the 2025 budget,’ BMI said, citing Budget Secretary Amenah F. Pangandaman’s warning that government spending may slow as investigations into alleged corruption intensify.

For 2026, BMI said fiscal consolidation-the government’s effort to reduce its deficit-will remain slow, with only a slight narrowing of the deficit to 5.4 percent of GDP

With next year’s national budget set at P6.793 trillion, BMI said tax revenue collections ‘will not keep up with spending’ since plans to expand the tax base are ‘feeble at best’ so far.

‘Furthermore, the US-Philippines trade deal is expected to further reduce import duties collected from US exports,’ it added, citing the Bureau of Customs’ (BOC) projection of P30 billion in foregone tax revenues.

The narrower deficit projected for 2026 will be partly due to one-time revenues from the sale of state assets, which could yield 0.3 percent of GDP.

‘We think that this is fiscally unfeasible over the long run. The Philippines’ public finances remain fragile,’ BMI said.

With the country’s debt-to-GDP ratio increasing to 60 percent from the prepandemic level of 40 percent, BMI said this puts the Philippines among ‘regional laggards in fiscal recovery.’

‘Elevated borrowing costs and a narrow revenue base further limit Manila’s ability to deliver large-scale fiscal support without compromising debt sustainability,’ it added.

Sept budget gap

In September alone, the budget gap narrowed by 9.22 percent year-on-year to P248.1 billion from P273.3 billion.

The government generated P281.7 billion in revenues, lower by 5.99 percent from P299.7 billion last year.

Tax revenues raised by the Bureau of Internal Revenue (BIR) and BOC rose to P265.9 billion, up by 4.91 percent from P253.4 billion in the previous year.

However, non-tax revenues plunged by 65.78 percent year-on-year to P15.8 billion from P46.2 billion due to the base effect of extraordinary non-recurring remittances from last year.

Expenditures also dropped by 7.53 percent to P529.8 billion from P572.9 billion in the same month a year ago.

BTr attributed the decrease to the lower spending performance of the Department of Public Works and Highways (DPWH), following the agency’s ongoing validation of the status of completed projects and strict verification of progress billings and payments claims.

However, the contraction was slightly offset by the sizable increases in interest payments and allotment to local government units due to the higher National Tax Allotment shares for 2025.

‘While some DPWH projects faced implementation challenges, the government has in place catch-up measures to keep overall spending aligned with the government’s priorities and ensure that expenditures continue to drive economic growth,’ the BTr added.

THE acting National Police (PNP) chief, Lt. Gen. Jose Melencio Nartatez Jr., on Thursday said that the cyber units of the agency will help secure the coming ‘Undas’ holidays.

Nartatez said that the police cyber units will operate in tandem with regional monitoring hubs to watch over social-media chatter and digital incident reports that could indicate emerging threats or misinformation.

‘Security today is no longer confined to physical spaces. We are also monitoring digital spaces where misinformation or scams can spread quickly, especially when millions of Filipinos are travelling and staying connected through their phones,’ Nartatez said.

‘Technology gives us an added layer of situational awareness. It helps us deploy personnel more efficiently and detect possible problems before they escalate,’ he explained.

Nartatez also tasked the Anti-Cybercrime Group to flag fake advisories, phishing messages, or online scams pretending to offer travel assistance or cemetery services.

He said crowd behavior analytics drawn from CCTV (closed-circuit television) networks, drone footage, and mobile app data will also help estimate real-time movement in transport terminals and major cemeteries.

So far, police have not monitored any threats in anticipation of the All Saints/Souls commemoration.

On the ground, some 25,300 policemen and 22,000 force multipliers will be deployed nationwide to ensure the safety of the public.

Assistance desks, patrol teams, and traffic management units will also be stationed in cemeteries, bus terminals, seaports, and airports.

Manila, Philippines – October 10, 2025. AMA University Online Education (OEd) proudly celebrated its 2025 Commencement Exercises at the Metropolitan Theater, honoring a new generation of ‘Breakthrough Professionals of the New World.’

The ceremony gathered students, faculty, and families in a momentous event that recognized academic excellence and the spirit of innovation that defines OEd graduates.

A Ceremony of Excellence and Inspiration

The program opened with the OEd Team Assembly and registration, followed by an open house for guests and participants. As the procession began, the graduates, officers, and guest speakers filled the grand theater with anticipation. The event’s Master of Ceremonies, Nicole Hyala, an award-winning radio DJ, influencer, and vlogger, set an energetic and uplifting tone for the afternoon.

The formal proceedings began with the Entrance of Colors, Doxology, and the Philippine National Anthem, setting a dignified atmosphere before the singing of the AMA Hymn led by Mr. Nolo Lopez, an award-winning singer, songwriter, actor, and brand endorser.

Messages from OEd Leadership

Christopher P. Satulan, Chief Operating Officer of OEd, delivered the Welcome Remarks, commending the graduates for their perseverance in pursuing their dreams through online education.

He was followed by an inspiring message from Dr. Amable C. Aguiluz IX, Vice Chairman, CEO, and Founder of OEd, who reaffirmed the institution’s mission to make education accessible and adaptive for all. In his message, Dr. Aguiluz underscored how online learning has become a symbol of empowerment-breaking barriers of distance, time, and circumstance. He reminded graduates that the future belongs to those who continue to evolve, saying that success is not defined by where one studies, but by one’s dedication to keep learning and growing. His words reflected OEd’s enduring belief that technology and education together can transform lives and build a nation of innovators.

Dr. Amable R. Aguiluz V, Chairman of the AMA Education System, also extended his message through Oliver T. Vergara, Technical Director, congratulating the graduates for their resilience and encouraging them to embrace continuous learning as they step into a world shaped by digital transformation.

Words of Wisdom and Recognition

The Inspirational Address was delivered by renowned television host and talent manager Mr. Eugenio ‘Boy’ Abunda Jr., whose speech became one of the highlights of the ceremony. Speaking with passion and sincerity, Abunda encouraged the graduates to face life with courage and conviction.He emphasized, ‘Do not be afraid.’

Abunda reminded the graduates that fear is natural but should never hold them back from pursuing their dreams. He shared stories from his own journey-how faith, authenticity, and perseverance allowed him to overcome challenges and reinvent himself throughout his career. His message resonated deeply with the audience, urging them to embrace uncertainty as part of growth and to trust in their ability to make a difference.

Following his heartfelt speech, Mr. Abunda was presented with a Plaque of Appreciation by Christopher P. Satulan, Oliver T. Vergara, and Geraldine V. Barredo for his invaluable words of motivation.

An intermission number by Nolo Lopez and the presentation of the candidates for graduation by Melissa Aiza D. Pacheco, OEd Registrar, marked the transition into the academic portion of the program.

Honoring Academic Achievements

The Conferment of Degrees was led by Dr. Mary A. Soriano, Head of the Academic Department, followed by the Presentation of Academic Honors to top-performing graduates.

Marco Randy M. Pavia, Summa Cum Laude, Bachelor of Science in Psychology, delivered a heartfelt Valedictory Address, sharing the collective journey of resilience and transformation among the graduates.

The moment was followed by a moving Tribute to the Parents Video Presentation and a Pledge of Loyalty led by Jashley C. Alkuino, With Highest Honor, SHS – TVL/ICT.

Induction, Distribution, and Farewell

The ceremony continued with the Induction to the Alumni Association, led by Magna Cum Laude awardees Elianne Syl M. Ambas (BA in Mass Communication), Daryl Mae J. Medil-Braga (BA in English), and Edgar A. Cayanan (BS in Psychology).

Afterwards, the Distribution of Diplomas and the Graduation Rites officially marked the culmination of the academic journey. The event concluded with the Exit of Colors and Recessional, symbolizing both an ending and a new beginning for the graduates.

THE Department of Justice (DOJ) has formed a panel of prosecutors to conduct a preliminary investigation into the five cases filed against officials from the Bulacan’s first district engineering office of the Department of Public Works and Highways and several contractors in connection to the ghost flood control projects in the province.

At a press briefing, DOJ spokesman Polo Martinez said the cases were referred to the Office of the Ombudsman last October 14 for evaluation but were ordered to be returned to the justice department after more than a week to avoid repetition of proceedings.

The preliminary investigation would determine whether there is sufficient evidence to file malversation under Article 217 of the Revised Penal Code, falsification by public officers under Article 171 of the RPC, perjury under Article 183 of the RPC, and Section 3e of Republic Act 3019 (Anti-Graft and Corrupt Practices Act) against the respondents.

‘The Ombudsman has deputized the DOJ to conduct the preliminary investigation on the five cases,’ Martinez said.

‘So we’ll assess the evidence, we will evaluate the evidence to see if there is enough grounds to proceed with the trial,’ Martinez said.

Martinez added that the DOJ is eying to conclude the preliminary investigation proceedings within a month.

‘We’re working within a month period. That is the fastest, one month period for us to conduct the preliminary investigation and conclude it. I cannot guarantee that we will be able to finish in one month but we are endeavoring, we are working to resolve this with haste in one month,’ he stressed.

Meanwhile, DPWH Secretary Vince Dizon yesterday led the filing of a criminal complaint for graft and malversation of public funds with falsification of public documents against more than 20 DPWH officials and contractors involved in the ghost and substandard flood control projects in La Union and Davao Occidental.

The charges are considered non-bailable offenses.

The case involves the P96.5 million substandard flood control project in La Union undertaken by construction firm Silverwolves Construction Corporation.

Ombudsman Jesus Crispin Remulla tagged former ACT-CIS representative and now Benguet Congressman Eric Yap as a person of interest in the said project.

Yap, according to Remulla, is known to be the beneficial owner of the company.

‘He divested from it a few years ago, supposedly, but there is reason to suspect that he is still the beneficial owner of the company. So, there’s a clear case of conflict of interest also, punishable under Republic Act No. 3019 (Anti-Graft and Corrupt Practices Act),’ Remulla noted.

‘Congressmen should not partake of contracts, should not even be related to the people doing contracts,’ he added.

Yap, however, was not named in the complaint.

On the other hand, the two ghost flood control projects in Davao Occidental amounting to a total of P179.5 million were awarded to St. Timothy Corporation, a company linked to contractor-couple Pacifico ‘Curlee’ and Cezarah ‘Sarah’ Discaya.

The projects were awarded in 2022 with a target completion date within the same year, according to Dizon.

‘It was supposed to have been completed in 2021, but after the news erupted, they tried to start working on the projects. So, they started working on the projects after the scandal had already broken out,’ he pointed out.

‘So, it’s really a ghost project, so it’s falsification. It’s malversation committed through falsification,’ he added.

Remulla said the respondents would be asked to file their counter-affidavits.

THE Philippines’s economic momentum is at risk of further weakening next year, as waning consumption, softening remittances and fading investment appetite add up to global trade uncertainty.

In a commentary, BMI, a Fitch Solutions Company, said it has revised its economic growth forecast for next year downward from 6.2 percent to 5.2 percent.

This is lower than the Cabinet-level Development Budget Coordination Committee’s (DBCC) growth target of 6 percent to 7 percent for 2026.

‘Headwinds to growth are mounting,’ it said, citing expectations of a slump in remittances due to tighter US immigration policy coupled with a 1-percent remittance tax on transfers starting in 2026.

‘A slowdown in remittances will weigh on domestic consumption, which will have an outsized impact on growth given the domestically driven economy,’ BMI said.

The trade deal between the Philippines and the United States, which maintains 19 percent tariffs on Philippine goods while granting American products tariff-free access, will dampen the country’s trade balance in 2026, it added.

Investment sentiment is also likely to remain weak next year, as ‘erratic’ US trade policies are expected to sour global investors and limit foreign direct investment inflows.

Moreover, if the ongoing probe on flood control also uncovers corruption across other infrastructure projects, BMI said this could push actual spending below what the government planned and potentially hurt the economy.

Infrastructure spending has already begun to decline, as adverse weather conditions and tighter oversight have pushed back project implementation.

Latest data from the Department of Budget and Management (DBM) showed infrastructure expenditure and other capital outlays dropped by 21.8 percent year-on-year to P84.9 billion in August from P108.6 billion.

Even Finance Secretary Ralph G. Recto said that the government could miss its growth target of 5.5 percent to 6.5 percent this year due to slower government spending.

‘The good news is, moving forward, all of that is on the upside because we are solving the problem [on infrastructure projects]. So moving forward, you will realize your full potential for growth,’ Recto said earlier.

For 2025, BMI kept its growth forecast at 5.4 percent, after robust domestic consumption and frontloading activity supported the first half of the year.

However, growth is expected to moderate in the second half due to weak infrastructure spending and subdued investment activity, given the uncertain global environment.

‘The probe into alleged corruption has also worsened investment sentiment, with the Philippine Stock Exchange index [PSEi] closing at a near six-month low as of 30 September 2025,’ BMI added.

On the production side, the manufacturing sector contracted in September for the first time in six months, pulling the aggregated quarterly Purchasing Managers’ Index to its lowest since the third quarter of 2021. Exports also posted a sharp month-on-month slowdown in August.

BMI forecasts the GDP growth to reach 6.2 percent in 2027 and 6.3 percent in 2028.

These are within the DBCC’s growth target of 6 to 7 percent for the years 2026 to 2028.