“When you ‘think growth, think Philippines’ so that together, we will reap the benefits of robust, sustainable, and inclusive growth for our businesses and for our peoples,” Pres. Marcos Jr. said.
TOKYO — President Ferdinand Marcos Jr. touted the Philippines’ strong macroeconomic fundamentals, liberal investment reforms, and infrastructure program on Friday as he urged Japanese businessmen to invest in the country.“As we go along our development journey, I invite all of you to continue and enhance that partnership.
Despite the elevated inflation seen last year at 5.8%, surpassing the government’s estimate of 2-4%, the President said that inflation remained “manageable” as the Bangko Sentral ng Pilipinas projects inflation to settle at 4.5% this year and go down further to 2.8% next year. “Aided by industrialization and job-creation strategy, we expect the Philippine economy to graduate from lower middle-income to upper middle-income status by 2024, if not sooner. This will keep us on track in achieving high-income status by 2040," Marcos said."Against this backdrop, we envision poverty incidence in the Philippines to be slashed by half or from 18.1% in 2021 to 9% by 2028," he added.
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