World Bank report ‘a clear validation’ of PH economic growth

By Billy Begas

Speaker Ferdinand Martin Romualdez hailed the country’s remarkable economic performance, following the World Bank report that the Philippines is now entering a “breakthrough era” of sustained and inclusive growth under the leadership of President Ferdinand Marcos Jr.

“The World Bank’s latest forecast is more than just good news—it is a clear validation that our country is moving in the right direction. We are no longer just recovering. We are rising. We are breaking through,” Romualdez said.

“Ang ibig sabihin ng breakthrough na ito: mas maraming trabaho para sa ating manggagawa, mas mataas ang kita ng maliliit na negosyo, mas maraming oportunidad para sa mga estudyante at kabataan, at mas magaan ang buhay para sa bawat pamilyang Pilipino,” he added.

According to WB’s June 2025 Economic Update, the Philippines was the second-fastest growing economy in Southeast Asia, posting a solid 5.6% GDP growth in 2024, with strong projections through 2027. Only Vietnam ranks higher in the region.

Romualdez credited the administration’s Bagong Pilipinas agenda, in partnership with a responsive and reform-oriented Congress, for laying the groundwork through strategic policy reforms and investment in people.

“This breakthrough is not just for the few—it is for every Filipino who dreams of a better life. Sa Bagong Pilipinas, walang maiiwan. Sama-sama tayong aangat,” he said.

He said the growth was boosted by the measures approved by Congress such as the Ease of Doing Business reforms, massive infrastructure funding to enhance connectivity and logistics nationwide, expanded support for farmers, fisherfolk, and rural enterprises, digital transformation policies to bridge urban-rural development gaps, and laws on education, health care, and social protection to build long-term human capital.

“We are not just growing fast—we are growing right. Congress made sure our laws open doors for ordinary Filipinos, not just the elite. That is the breakthrough we fought for,” Romualdez declared.

“We are entering a new phase—not defined by crisis, but by confidence and capability. From being vulnerable to shocks, we are now ready to compete, to expand, and to lift our people to new heights,” he added.

Romualdez also gave his assurance that the House will continue championing pro-people, pro-growth legislation aimed at reducing inequality, promoting social mobility, and empowering Filipino families.

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