Finance Secretary Frederick D. Go
Finance Secretary Frederick D. Go downplayed the recent slowdown in economic momentum, describing the country’s below-target 4.4 percent growth in 2025 as resilient performance that remains a regional standout.
Speaking to the Philippine Life Insurance Association Inc., Go sought to temper concerns after the gross domestic product (GDP) failed to meet the government’s minimum expectations, noting that the pace of expansion still exceeded the global average of 2.9 percent and the regional benchmark of 3.8 percent.
“Sometimes we get used to 5.5 percent and think 4.5 is a disaster. I just want to tell you it’s not a disaster,” Go said in his speech.
“All the fundamentals that allow the economy to grow at five-point-five percent are intact. None of the macroeconomic fundamentals have changed. So we should get back on track this year,” he added.
Speaking to reporters on the sidelines of the event, Go said he is “hopeful” that growth will accelerate to at least five percent in 2026. “We’re not going to get there in the first quarter. If we do everything right, it has to happen progressively,” he said.
Go stressed the return of foreign investors propping up the economy, particularly supporting the strong performance of exports, which he called the “bright spot.” Major trade items expanded last year, with exports rising 8.1 percent and imports increasing 5.1 percent compared to 2024, according to the Philippine Statistics Authority (PSA).
Regarding the government’s spending plans, Go said the Department of Finance (DOF) has already finalized the 2026 fund allocation.
He said the top five spending agencies are the Department of Public Works and Highways (DPWH), the Department of Education (DepEd), the Department of Health (DOH), the Department of Agriculture (DA), and the Department of Transportation (DOTr).
Go also expressed confidence in the revenue collection performance of the country’s main tax authorities. “I think they are achievable and I’m hopeful that we will achieve those targets,” he said.
Economic managers, whom he co-chairs, have trimmed government revenue targets for the current and the coming years. The 2026 goal was lowered to ₱4.82 trillion from ₱4.98 trillion, while 2027 and 2028 targets were cut to ₱5.12 trillion and ₱5.57 trillion, down 4.5 percent and 5.9 percent from earlier projections, respectively.