Julia Christine Botin

Article (news)

Arthur Fuentes

ABS-CBN News

MANILA — Malacañang on Tuesday said the Philippine economy remains stable and open to investors even as President Ferdinand Marcos Jr. pushes a probe into corruption in public infrastructure projects.In a statement, Presidential Communications Office (PCO) and Palace Press Officer Claire Castro said the administration continues to strengthen governance and respond to public concerns while trying to boost growth.“Sa ilalim ng pamumuno ni Pangulong Ferdinand R. Marcos Jr., nanatiling matatag ang ekonomiya ng Pilipinas na may matibay na pundasyon at bukas na pagkakataon para sa mga mamumuhunan,” Castro said.Philippine economic growth skidded to 4 percent in the third quarter, as storms and concern over corruption scandals weighed on business sentiment, and government spending dropped significantly.Castro said the government is implementing a “comprehensive catch-up plan” anchored on national priorities to accelerate growth. She added that authorities aim to improve fiscal health without compromising economic recovery. “Unti-unti ring ibababa ng pamahalaan ang deficit at utang habang lumilikha ng mas maraming trabaho, tumataas ang kita ng mga Pilipino, at mas marami pang aangat ang buhay,” she said.Castro meanwhile said President Marcos is determined to hold accountable all individuals involved in corruption.  “Hindi matitinag si Pangulong Marcos sa pag-usig sa sinumang nasa likod ng mga tiwaling gawain – kamag-anak man, kaalyado, o kahit na ang sariling kadugo.”Meanwhile, the Federation of Philippine Industries (FPI) welcomed recent leadership changes in the Marcos administration’s economic team, describing them as crucial for restoring stability and reinforcing investor confidence.The FPI said it supports the appointment of Finance Secretary Ralph Recto as Executive Secretary and the designation of Frederick Go, Special Assistant to the President for Investment and Economic Affairs, as the new Finance Secretary. The group said the transitions would strengthen policy coherence and fiscal stewardship.The group said it also supports newly appointed Bureau of Internal Revenue (BIR) Commissioner Charlito Martin Mendoza, citing his “legal and operational expertise” from previous roles at the Department of Finance and the Bureau of Customs. The FPI said Mendoza’s leadership would bolster integrity and modernization efforts within the tax agency.The group said it stands ready to collaborate with the economic team to advance transparency, digitalization, and fair tax compliance.

The Philippine economy remains stable and open to investors even as Marcos pushes a probe into corruption, Malacañang said.

The Philippine economy remains stable and open to investors even as Marcos pushes a probe into corruption, Malacañang said.

Economy stable despite concerns over corruption probe: Palace

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Economy stable despite concerns over corruption probe: Palace

Arthur Fuentes,

ABS-CBN News

Published November 18, 2025 05:03 PM PHT

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Updated November 18, 2025 05:33 PM PHT

Read More:

corruption

flood control

infrastructure

GDP

economy

FPI

Claire Castro

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