The Philippines is in a strong position to withstand global economic pressures, with the government pursuing structural reforms aimed at strengthening resilience and sustaining inclusive growth, according to the Department of Economy, Planning, and Development (DEPDev).
DEPDev Secretary Arsenio Balisacan said the country’s solid macroeconomic fundamentals, steady domestic demand, and strong services sector continue to anchor economic stability despite external risks such as geopolitical tensions, trade disruptions, financial volatility, and climate-related shocks.
He noted that the Philippines is now on firmer economic footing compared to previous decades, allowing it to better absorb global headwinds while maintaining growth momentum.
“The medium-term outlook remains highly favorable,” Balisacan said, adding that growth projections are being calibrated to reflect both domestic strengths and global uncertainties.
He cautioned, however, that sustaining growth requires more than maintaining current performance.
“Our primary challenge is not simply restoring growth, but ensuring that it remains inclusive, employment-generating, and resilient to future external shocks,” he said.
Balisacan outlined key policy priorities to support long-term stability, including a whole-of-government approach to manage external risks and inflation, accelerated infrastructure development to boost connectivity and jobs, and stronger institutions to reinforce investor confidence and governance standards.
He also emphasized the importance of human capital development, citing the country’s young population as a potential long-term economic advantage if supported by investments in education, health, and productivity.
“Demographics create possibilities, not guarantees,” he said. “A young population becomes a true advantage only when it is healthy, educated, productive, and connected to opportunity.”
Balisacan likewise underscored the role of governance as an economic driver, noting that transparent and rules-based institutions help reduce uncertainty and encourage sustained investment.
The government, he said, continues to advance reforms aimed at improving accountability, transparency, consumer protection, and institutional efficiency.
He added that achieving the country’s long-term development vision under Ambisyon Natin 2040 will require sustained cooperation among government, the private sector, workers, and civil society.
“Growth has always been about more than expanding an economy or growing a business. It is about creating opportunities, uplifting communities, and improving lives,” Balisacan said.
“Our shared responsibility is to build an economy where more Filipinos can participate in—and benefit from—our nation’s progress,” he added.