The Philippines is solidifying its position as one of Asia’s most dynamic economies, a feat President Ferdinand R. Marcos Jr. proudly attributes to the unwavering dedication, inherent talent, and strong patriotism of the Filipino people.
Addressing a gathering in Lucena City, President Marcos declared, “With all due respect, we can say that the Philippines is now recognized by our regional counterparts as one of the fastest-growing economies in Asia.” He underscored the tangible impact of this economic momentum on the daily experiences of Filipino citizens.
“We are surpassing even the larger and more affluent nations,” the President noted. “We are committed to ensuring that this economic growth translates directly into a better quality of life for every Filipino.”
President Marcos was quick to emphasize the collective effort behind this progress. “This achievement is not my own. It is a testament to the skill, the capability, and the profound love for the nation held by the Filipino people.”
He detailed the government’s ongoing investments in critical infrastructure – roads, ports, irrigation, and flood control – as vital pillars for sustaining economic expansion and enhancing the well-being of Filipinos. He cited the recent inauguration of Phase 1 of the LRT-1 Cavite Extension Project, which added five new stations to the public transportation system.
“In addition to these LRT expansions, we are continuously building, upgrading, and extending a wide array of bridges, roads, and ports across the archipelago,” he stated. “Throughout the Philippines, we have numerous significant projects underway, establishing not only vital road networks but also essential flood control systems and irrigation dams for our agricultural sector.”
Further highlighting the positive economic indicators, the President pointed to the country’s unemployment rate reaching a two-decade low in the previous year. The Philippine economy demonstrated robust growth, registering a 5.2 percent year-on-year increase in gross domestic product (GDP) in the fourth quarter of 2024, culminating in an annual GDP growth of 5.6 percent.
