ALBAY Representative Joey Sarte Salceda expressed optimism about the Philippine economy’s resilience despite the first quarter’s growth falling short of government targets.
In a statement released on May 8, 2025, Salceda attributed the slowdown partly to the election spending ban and global uncertainties surrounding trade policies.
While acknowledging the impact of the election spending ban on first-quarter growth, Salceda anticipates a rebound in the second quarter, particularly in capital formation. He cited the increasing stability of expectations regarding potential tariff regimes as a contributing factor to this projected improvement. He noted that businesses had temporarily delayed some plans due to uncertainty in the global trade system.
To further bolster the economy’s resilience against global volatility, Salceda plans to propose several measures to the President.
These include initiatives to simplify and reduce the costs associated with exporting goods, streamlining the processing of licenses, permits, and rules of origin documents, and making existing tax incentives more easily accessible to businesses.
These proposals aim to create a more supportive environment for businesses and enhance the Philippines’ competitiveness in the global market. Salceda’s statement reflects a cautious yet optimistic outlook, highlighting the need for proactive measures to navigate global economic headwinds and ensure sustained economic growth.
