President Ferdinand R. Marcos Jr. said Thursday the government is ramping up public spending to recover from the country’s weaker economic performance in the third quarter of 2025, as the administration works to restore investor confidence amid global and domestic challenges.
The Philippine economy grew by 4 percent in the third quarter, its slowest pace since the pandemic, as the peso weakened to an all-time low and the stock market slipped to 2020 levels, amid the discovery of flood control corruption schemes.
Asked about the slowdown, Marcos cited multiple factors, including recent typhoons that disrupted business activity, and the effects of climate change and global trade shifts that have dampened economic growth across countries.
“The reason that we had that is that there really was a downturn in economic activity. You have to remember that it’s not only because of these problems. ‘Yung bagyo, ‘yung nawala na working days sa ekonomiya natin because of climate change (the storms and the lost working days in our economy due to climate change),” Marcos told reporters in a media briefing.
The President also noted that the Philippines is not alone in experiencing the ripple effects of global uncertainty.
“We are not the only ones suffering the shocks that come from the new trade structure that has been imposed on the rest of the world, and so we are all adjusting to that kaya’t ‘yung mga growth rate na lahat ng grupo all around the world is falling (growth rates everywhere are slowing),” he said.
Marcos assured that his administration will accelerate infrastructure and social sector disbursements in the final quarter to make up for the weaker performance earlier this year.
“Marami tayong measures na ginawa. The public spending now will be increased to make sure that by the end of the year that the levels of public spending are according to our original plan. So mababawi natin ‘yung nawala sa third quarter (We’ve taken many measures. Public spending will be increased so that by year-end, we meet our original plan. We’ll recover what was lost in the third quarter),” he said.
Earlier, the President ordered the release of a PHP1.307 trillion budget for the last quarter of 2025, which, according to the Department of Budget and Management, will be allocated mostly to social services. (PNA)
