The government is pursuing reforms to strengthen the Philippines’ economic resilience and sustain inclusive growth amid global uncertainties, according to the Department of Economy, Planning, and Development (DepDev).
Speaking at the 2026 Jollibee Group Mid-Year Economic Briefing, DepDev Secretary Arsenio Balisacan said the country’s strong macroeconomic fundamentals, resilient consumer spending, and expanding services sector have helped cushion the economy against geopolitical tensions, trade disruptions, market volatility, and climate-related risks.
While household spending and services remain key growth drivers, Balisacan stressed the need to expand the economy’s growth base through higher investments, innovation, productivity gains, and industrial transformation. Despite adjustments to growth forecasts due to global and domestic challenges, he said the medium-term outlook remains positive.
To sustain growth, Balisacan called for a whole-of-government approach to managing risks and inflation, accelerating infrastructure projects that boost connectivity and jobs, strengthening governance, and investing in human capital. He emphasized that the country’s young population can become a competitive advantage only if it is healthy, educated, productive, and connected to opportunities. He added that reforms to improve transparency, accountability, consumer protection, and institutional effectiveness remain a priority.
