Philippine Economy on Correct Path, Malacañang Confidently States
Malacañang has proudly declared that the nation's economy is firmly on the right trajectory, attributing this positive momentum to the robust and optimistic performance under the administration of President Ferdinand Marcos Jr. According to Palace Press Officer Undersecretary Claire Castro, the economic reforms implemented by the current government have played a significant role in driving this progress.
Key Economic Indicators Show Substantial Improvement
This assertion is based on a detailed report presented by the economic team to the President during the recent 7th Economy and Development Council Meeting held at Malacañang. Castro highlighted several critical statistics that underscore the economy's strength. Notably, the unemployment rate has seen a dramatic decline, dropping from 10.3% in 2020 to 4.7% in 2025. Similarly, the underemployment rate has decreased from 16.2% to 13.6% over the past year, indicating a rise in more suitable and decent employment opportunities for Filipinos.
The Palace official emphasized that these figures demonstrate the effectiveness of government programs focused on job creation and poverty alleviation. Supporting this, data reveals that the number of individuals living in poverty has fallen by 2.4 million people between 2021 and 2023. Additionally, the inflation rate in the country remains at a manageable level, further contributing to economic stability.
Government Focus on Addressing Challenges and Strengthening Ties
Castro also noted that President Marcos Jr. has issued strict directives to concerned government agencies to tackle various external challenges. These include addressing flood control issues and mitigating the impacts of climate change. The administration is committed to ensuring more efficient use of public funds while simultaneously enhancing economic relations within the ASEAN region.
This comprehensive approach aims to sustain the current economic momentum and foster long-term growth, positioning the Philippines for continued development in the coming years.
