President Ferdinand "Bongbong" Marcos Jr. (Noel Pabalate)




House Speaker Martin Romualdez has hailed President Ferdinand "Bongbong" Marcos Jr. for "charting the right course and we are steadily sailing towards a brighter future for all Filipinos". This, after the Asian Development Bank (ADB) bared projections of sustained robust growth for the Philippine economy this year and for 2024. According to Romualdez, the ADB projection affirms that the Philippines is "on the proper course to attain middle-income status by 2025". He noted that the ADB projection is well within the range of local  economic managers’ 6 0 to 7.0 percent growth assumptions for 2023 and 6.5 to 8.0 percent for 2024 to 2028, taking into account both domestic and external risks. The Speaker also cited the International Monetary Fund’s (IMF) economic growth forecast for the Philippines this year at 6 percent, with this year’s gross domestic product expansion projected to come in between 5.5 percent and 6 percent. “With President Marcos’ steady hand at the helm and everyone pulling together, I am confident that we can reach our goal and overcome any rough waters that we may encounter on our journey,” Romualdez, Leyte's 1st district congressman, said. The country’s sustained economic growth can also be attributed to President Marcos’ clarion call for unity as it harnesses our nation’s collective strength and effort to rebuild the economy, the House leader said. “It is a testament to the resilience of our people, the ingenuity of our businesses, and the strong partnerships forged between the government and private sector,” he pointed out. Romualdez said the House of Representatives remains committed to the task of enacting laws to sustain our economic momentum, foster an enabling business environment, and ensure that all the benefits of growth reach all segments of society. “Likewise, in the exercise of our power of the purse, we will prioritize allocations to strengthen social safety nets and invest in crucial sectors that will fuel inclusive growth and development,” Romualdez said. Among others, Romualdez said the House will also ensure adequate funding for programs to tame rising prices of food and basic commodities, pursue critical infrastructure projects, ensure energy security, enhance the ease of doing business in the country, improve the delivery of health services, and create more jobs. “We will await the President’s plans for the country’s direction next year in his State of the Nation Address (SONA) and we will waste no time in working with the executive to put in place the necessary reforms to uplift the lives of our people,” he said. Marcos will deliver his second SONA on Monday, July 24 before a joint session at the House of Representatives.