The Philippines' neighbors in the Association of Southeast Asian Nations (ASEAN) are both happy and impressed over the country’s apparent economic turnaround under President Ferdinand "Bongbong" Marcos Jr.
This was shared by House Speaker Martin Romualdez during a press briefing on Tuesday afternoon, Nov. 15.
"Natutuwa ang kapwa nating ASEAN nations kasi nakita nila, 'Uy, yung Pilipinas ay--the economy is growing (Our fellow ASEAN nations are happy because they can see, 'The Philippines' economy is growing). Lumalakas na yung recovery ninyo while some are not doing as well (Your recovery is growing, while some are not doing as well)," he said.
Romualdez accompanied the President during the just-concluded 40th and 41st ASEAN Summit and related summits in
According to Romualdez, the regional bloc has been doing better than the rest of world so far in terms of economic growth and recovery from the Covid-19 pandemic.
"And they are now seeing--when I say 'they' it's not just the ASEAN but our partner nations --re seeing that the Philippines, with its growth targets, being actually achieved on the higher side of the spectrum," he said.
It was recently reported that the Philippines experienced a 7.6 percent economic expansion in terms of gross domestic product (GDP) during the third quarter of 2022--the first full quarter under President Marcos.
"Even si Chairman Joey Salceda, making reference to these statements, 'Hindi ito tsamba (This is not a fluke).' It is actually by design," said Romualdez, president of the Lakas-Christian Muslim Democrats (Lakas-CMD).
"As you know we are well into the fourth month of the presidency so it's apparent that the direction that PBBM's (Marcos) economic managers, upon his instructions, are already bearing fruit," he said.
"We intend to help and support this. The growth is there as evidenced by the GDP," added Marcos's top ally in the legislature.