The Marcos Jr. Administration’s Economic Team presented the latest economic outlook of the Philippines to United States investors at the Philippine Economic Briefing held in Washington, D.C., on April 12.
Finance Secretary Benjamin E. Diokno led the briefing with a keynote address where he discussed the proactive efforts and plans of the current Administration to sustain high infrastructure investment in the next six years, as well as the “interconnected structural reforms” that opened up key growth sectors to international participation.
Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla, while emphasizing the independence of the Philippine Central Bank, gave an optimistic outlook on inflation and subsequently committed to the continuous expansion of platforms for digital payments and financial inclusivity in the country to ensure the achievement of long-term goals of price and financial stability.
In her presentation on the country’s priority expenditures, Budget Secretary Amenah F. Pangandaman highlighted the “age-old friendship” between the Philippines and America, saying the time to invest in the Philippines is now as the Marcos Jr. Administration works hard to make the Philippines a viable investment destination, improving the country’s physical, social, and digital infrastructures.
In relation to this, NEDA Secretary Arsenio M. Balisacan underscored that infrastructure development will be complemented by strengthened public-private partnerships, encouraging more foreign partnerships and businesses.
With the numerous investment opportunities and policy reforms presented, Secretary Pangandaman called on business leaders, bankers, and investors to join the Philippines in its journey towards genuine prosperity.
“We hope to strengthen this friendship even more as we continue to nurture our robust people-to-people ties, invigorate our dynamic bilateral relations, and pursue economic transformation,” Secretary Pangandaman said.
World Bank Country Director for the Philippines, Malaysia, and Thailand Ndiamé Diop expressed his optimism in the country’s drive for investment regarding the administration’s thrust to lift infrastructure spending to 5 to 6 percent of Growth Domestic Product (GDP) as a game changer.
The economic managers were joined by Information and Communications Technology Secretary Ivan John Uy and Macquarie Asset Management Managing Director Michael Rodriguez in the panel discussion moderated by BSP Managing Director Tony Lambino and DBM Undersecretary Margaux Salcedo.
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