House Speaker Martin Romualdez says Moody’s Investors Service’s positive forecast for the Philippines in 2023 confirms that the country is "on the right track" under President Ferdinand "Bongbong" Marcos Jr.

Romualdez made this remark Friday, adding that the forecast likewise confirms that "our economy is in full swing toward recovery, gaining more momentum".

"It is reassuring to note that Moody’s sees the Philippines posting the fastest GDP (gross domestic product) growth in the Asia-Pacific region next year with 6.4 percent, followed by Vietnam with 6.1 percent, China with 5.1 percent, India with five percent, Indonesia with 4.7 percent, Thailand with 3.9 percent and Malaysia with 3.8 percent," the House leader said.

"Such growth, according to Moody’s, would be spurred by pent-up demand for goods and services, as well as the government’s fiscal policy promoting education, public health, and infrastructure development," he noted.

Romualdez said Moody's projection on the Philippine economy’s performance next year is buttressed by Department of Finance (DOF) Secretary Benjamin Diokno’s own statement that our GDP growth will likely reach 7 percent or at least 6.5 percent for this year.

"Taken together, they validate the rationality of President Ferdinand (Bongbong) R. Marcos, Jr.’s decision to relax pandemic-related restrictions, the soundness of his administration’s economic policies, and the competence of his chosen economic managers," said the Leyte 1st district congressman.

But Romualdez acknowledged that, despite these upbeat predictions, "dark clouds remain on the horizon that may impede our growth momentum, such as the Russia-Ukraine conflict and the continuing specter of the Covid-19 virus".

As such, he vowed that the House of Representatives "remains committed to passing the priority legislation of the Marcos administration to address these concerns and ensure sustainable, resilient, innovative, and inclusive economic growth".

"With the prudent fiscal and economic policies of the Marcos administration, a strong partnership between the government and the private sector, and the cooperation of our people, we have a good reason to look forward to a better life for our people in the coming year," he said.