The leadership of the House of Representatives assured foreign investors and multilateral lenders that the Philippine Congress will continue to pass measures to sustain the country’s robust economic performance.
THE leadership of the House of Representatives assured foreign investors and multilateral lenders that the Philippine Congress will continue to pass measures to sustain the country’s robust economic performance.
The Speaker welcomed as good news the “encouraging remarks” made by Standard Chartered Bank Global Head of Public Sector and Development Organizations Karby Leggett; World Bank Country Director for Philippines, Malaysia, Thailand, and Brunei Ndiamé Diop; and International Monetary Fund Deputy Director, Asia, and Pacific Department Sanjaya Panth during the Philippine economic team’s presentation, led by Finance Secretary Benjamin Diokno.
Romualdez said the event was part of the Marcos administration’s whole-of-government approach to attracting more foreign investments that create more income and job opportunities for Filipinos. Diokno said the 2022-2028 Medium Term Fiscal Framework, which Congress passed shortly after it convened in July last year, “serves as a compass to steer the economy closely along the path of fiscal sustainability and economic growth.”
The government’s fiscal performance remains strong, with 2022 revenue collections reaching P3.5 trillion or about US65 billion, 18 percent higher than the 2021 level, Diokno pointed out. She added that physical infrastructure spending is “aimed at improving physical connectivity throughout the country through the construction of accessible road networks, railways, buildings, and flood control infrastructure, among others.”
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