00:00The Philippine economy remains successful based on its economic growth in the past year, while the economy is expected to grow more for 2025.
00:12This is confirmed by the Department of Budget and Management and the Department of Finance.
00:17According to DBM Secretary Amena Pangandaman, although the 6.0% to 6.5% target is higher than the expected 5.6% GDP growth of the Philippines in the fourth quarter of 2024,
00:29the country is still one of the fastest-growing economies in the Asia-Pacific regions.
00:34In addition, despite the severe typhoons experienced in 2024, the Build Better More Program and the effective spending of the government, especially in the infrastructure sector, also helped.
00:45While the government is also implementing the strategies in accordance with the 8-point socio-economic agenda and Philippine Development Plan 2023-2028 to boost the economic growth.
00:57According to Finance Secretary Ralph Recto, despite the calamities, geopolitical tensions, and the decline in global demand in the past year,
01:05they are positive for the upcoming economy in 2025, along with a low inflation rate and the implementation of Create More,
01:13where more global investment is expected to enter the country, such as those proposed by the World Economic Forum.
01:22Meanwhile, the government is also targeting 3 million jobs by 2028 through new programs such as the Work for the Country and Create More Act,
01:32along with the aim of strengthening local businesses and continued demand of global investors in the country.
