June 12, 2024 - President Ferdinand R. Marcos Jr. commended his administration's management of the Philippine economy, highlighting efforts to control inflation and attract investment.
During a gathering at the Malacañan Palace, the President acknowledged the global challenge of inflation but expressed satisfaction with keeping it "at a reasonable, almost manageable level" within the government's target range of 2 to 4 percent. He reported the current inflation rate at 3.5 percent.
President Marcos also expressed his delight over the Philippines' positive credit rating as an investment destination. He believes this translates to easier access to financing for government programs and fosters optimism for continued economic growth.
The President highlighted recent forecasts pointing towards the Philippines having "one of the highest growth rates for the next year." He views this positively, especially considering the country's recovery from drought and preparation for the coming rainy season.
Overall, the message from President Marcos is one of confidence in the government's handling of the Philippine economy. He emphasized efforts to curb inflation, attract investment, and achieve continued economic growth.