The Philippines is well-positioned to navigate a challenging global environment, with the government pursuing reforms to strengthen economic resilience and sustain inclusive growth, the Department of Economy, Planning, and Development (DEPDev) said on Tuesday.
Delivering the keynote presentation on behalf of DEPDev Secretary Arsenio M. Balisacan at the 2026 Jollibee Group Mid-Year Economic Briefing on June 16, Undersecretary Rosemarie G. Edillon conveyed the Secretary’s message that the country’s sound macroeconomic fundamentals, resilient domestic demand, and growing services sector have placed the economy in a stronger position than in previous decades, even as geopolitical tensions, shifting trade relationships, financial uncertainty, and climate-related risks weigh on the global outlook.
Against this backdrop, Secretary Balisacan emphasized that household consumption and the services sector remain long-standing pillars of Philippine growth and will continue to anchor the country’s development trajectory, while underscoring the need to broaden the growth base through stronger investment, innovation, productivity, and industrial transformation.
While growth projections have been recalibrated to reflect prevailing domestic and global conditions, Balisacan said the medium-term outlook remains favorable. He added that the challenge is not only to restore growth but to ensure it remains inclusive, employment-generating, and resilient to future shocks.
To support this objective, the keynote outlined three key priorities: a whole-of-government approach to mitigate external risks and contain inflationary pressures; accelerated implementation of high-impact infrastructure projects to strengthen connectivity and job creation; and stronger institutions and governance to restore public trust and sustain investor confidence.
Beyond these near-term priorities, Secretary Balisacan underscored the importance of investing in human capital to fully harness the country’s demographic advantage, particularly its young population and growing working middle class, which underpin domestic demand and productivity.
“Demographics create possibilities, not guarantees. A young population becomes a true advantage only when it is healthy, educated, productive, and connected to opportunity,” he said.
He further emphasized that governance is an economic asset, noting that transparent, accountable, and rules-based institutions reduce uncertainty and encourage investment. In this regard, government continues to pursue legislative and institutional reforms aimed at strengthening transparency, accountability, consumer protection, and institutional effectiveness.
The Secretary likewise emphasized that achieving Ambisyon Natin 2040 requires sustained partnership among government, businesses, workers, communities, and civil society.
“Growth has always been about more than expanding an economy or growing a business. It is about creating opportunities, uplifting communities, and improving lives,” he said. “Our shared responsibility is to build an economy where more Filipinos can participate in—and benefit from—our nation’s progress.”
