According to the World Bank, the Philippines' gross domestic product (GDP) is expected to grow 6.0 per cent this year.
SPEAKER Ferdinand Martin G. Romualdez on Thursday welcomed the latest World Bank forecast indicating the Philippine economy is poised to expand faster than expected this year, citing the united effort of the Executive and Legislative branches of the government as a major contributing factor to the country’s strong economic performance.
According to the World Bank, the Philippines’ gross domestic product (GDP) is expected to grow 6.0 per cent this year, upgrading its previous forecasts of 5.4 per cent in December and 5.6 per cent in April.
“This upgraded forecast reinforces the positive trajectory of the Philippine economy and demonstrates that we are on the right track towards recovery and progress. It is a testament to the resilience of our people, the dynamism of our businesses, and the stability of our economic fundamentals,” Speaker Romualdez said.
“The comprehensive and inclusive economic agenda of the administration of President Ferdinand R. Marcos, Jr., as well as the collaborative efforts between the Executive and Legislative branches, have proven fruitful in fostering an environment conducive to growth,” he added.
The Speaker also commended the collective efforts of the country’s economic managers, lawmakers, and all stakeholders who have contributed to this positive development.
Likewise, he reiterated that the House of Representatives remain focused on passing the necessary legislations meant to further boost the momentum of the country’s economic growth for the benefit of every Filipino.
“As the House amply demonstrated, we remain committed to implementing policies that will further stimulate economic activity, attract investments, and generate employment opportunities for our fellow Filipinos,” Speaker Romualdez said.
“We will not allow any distraction to derail our efforts at finding appropriate and timely solutions to the problems affecting the lives of our people,” he added.
The House posted a strong finish as it closed the First Regular Session of the 19th
Congress strong, having approved 33 out of 42 bills listed as priority measures of Pres. Marcos and adopted by the Legislative-Executive Development Advisory Council (LEDAC).
Moreover, through Speaker Romualdez’s stewardship, the bigger chamber was able to process a total of 9,600 measures consisting of 8,490 House bills, 1,109 resolutions and one petition.
