Malacañang has openly admitted that the current administration might once again fall short of its targeted Gross Domestic Product (GDP) growth rate for this year. This potential shortfall is attributed to ongoing factors that are impacting the nation's economic momentum.
Investigations and Natural Calamities Cited as Key Factors
According to Palace Press Officer Undersecretary Claire Castro, the primary reasons behind this economic challenge include the continuous investigation into allegedly anomalous flood control projects. Additionally, the Philippines has been experiencing a series of natural disasters, such as earthquakes, severe flooding, and powerful typhoons, which have collectively strained economic activities and infrastructure.
President Marcos Jr. Commits to Transparency and Economic Recovery
Despite these hurdles, Castro assured the public that President Ferdinand Marcos Jr. will not halt the ongoing investigations into the flood control projects. Instead, the President has directed his economic team to intensify plans focused on job generation, income growth, and tourism development to revitalize the economy.
Castro confirmed that President Marcos has already reviewed the full-year GDP report for 2025. The economic team explained to him that the current economic slowdown is driven by existing geopolitical tensions and the effects of the investigation into the questionable flood control initiatives.
Focus on Investments and Inflation Control
Special Assistant to the President for Investment and Economic Affairs Frederick Go highlighted that the President aims to strengthen investments to create more high-quality jobs and reduce poverty levels. Meanwhile, inflation remains under control, and government agencies have been instructed to ensure it stays low to support economic stability.
This comprehensive approach underscores the administration's commitment to addressing both immediate challenges and long-term economic goals, even as external and internal factors pose significant obstacles to growth.
