President Ferdinand Marcos Jr meets with the country's economic managers. Handout

The Philippines is entering 2025 in a stronger position than at this time last year,  the country’s economic managers said in a Palace briefing Monday.

BSP Governor Eli M. Remolona Jr. said the country is seeing the “fruit of our efforts in bringing down inflation within the government’s target range of 2 to 4 percent.”

The Bangko Sentral said core inflation has trended downward, allowing the BSP to begin reducing its policy rate, which it cut three times last year by a total of 75 basis points.

It noted upside risks to inflation remain with prices of certain commodities possibly rising due to supply-side factors like geopolitical tensions and adverse weather conditions.

“It’s always good to be prepared,” President Ferdinand Marcos Jr said during the meeting.

The BSP said it will continue to focus on maintaining price stability conducive to a balanced and sustainable growth of the economy and employment.