Manila: The government is pursuing reforms to strengthen the country's economic resilience and sustain inclusive growth, according to the Department of Economy, Planning, and Development (DEPDev). In a keynote presentation delivered by Undersecretary Rosemarie Edillon at the 2026 Jollibee Group Mid-Year Economic Briefing, DEPDev Secretary Arsenio Balisacan highlighted the Philippines' sound macroeconomic fundamentals. He emphasized the resilient domestic demand and expanding services sector as essential factors placing the economy in a stronger position amidst global uncertainties such as geopolitical tensions, shifting trade relations, financial instability, and climate-related risks.
According to Philippines News Agency, Balisacan identified household consumption and the services sector as the main drivers of economic growth. He urged the need to broaden the growth base through increased investment, innovation, productivity, and industrial transformation. Despite recalibrated growth projections to align with current domestic and global conditions, the medium-term outlook remains favorable.
To sustain growth, Balisacan emphasized a whole-of-government approach to mitigate external risks and control inflationary pressures. He called for the accelerated implementation of high-impact infrastructure projects to enhance connectivity and generate employment, alongside stronger institutions and governance to rebuild public trust and sustain investor confidence. Furthermore, Balisacan stressed investing in human capital to leverage the country's demographic advantage, particularly its young population and growing working middle class.
Balisacan remarked that the government's efforts include pursuing legislative and institutional reforms to enhance transparency, accountability, consumer protection, and institutional effectiveness. He concluded by stating that growth is about creating opportunities, uplifting communities, and improving lives, underscoring the shared responsibility to build an economy where more Filipinos can participate in and benefit from national progress.
