Speaker Ferdinand Martin Romualdez on Thursday hailed the Philippines strong economic performance, as reported by the World Bank, saying the country 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.
According to the World Bank’s June 2025 Economic Update, the Philippines posted a solid 5.6 percent GDP growth in 2024, making it the second-fastest growing economy in Southeast Asia, behind only Vietnam. The report also projects strong economic prospects for the country through 2027.
Romualdez emphasized that the country’s growth must be reflected not only in economic figures but in the improved quality of life for everyday Filipinos.
‘‘This breakthrough means more jobs for workers, higher income for small businesses, more opportunities for students and young people, and a better life for every Filipino family,’’ he said.
He credited the administration’s Bagong Pilipinas (New Philippines) agenda supported by a reform-driven Congress for laying the foundation through strategic policy reforms and investments in people. He also highlighted key legislative efforts by the House of Representatives that fueled the country’s growth, including:
Ease of doing business reforms to support micro, small, and medium enterprises (MSMEs)
Increased infrastructure funding to improve connectivity and logistics Expanded support for farmers, fisherfolk, and rural enterprises Digital transformation policies to close development gaps Legislation on education, healthcare, and social protection to build long-term human capital
‘‘We are not just growing fast — we are growing the right way,’’ Romualdez said.
‘‘Congress made sure our laws create opportunities for ordinary Filipinos, not just for the privileged few. That is the breakthrough we fought for.’’
He said the country’s economic trajectory marks a significant turning point:
‘‘We are entering a new phase one defined not by crisis, but by confidence and capability. From being vulnerable to external shocks, we are now ready to compete, expand, and lift our people to greater heights.’’
Romualdez assured the public that the House will continue to champion legislation that is pro-people and pro-growth, focused on reducing inequality, advancing social mobility, and empowering Filipino families. ‘‘This breakthrough is not just for a few” it is for every Filipino who dreams of a better life.
In the New Philippines, no one will be left behind. Together, we will rise.
