- Admin managing economy well, Speaker tells IMF

By Maricel V. Cruz

THE administration of President Ferdinand Marcos Jr. is managing the economy well, as shown by the higherthan-expected growth in the first quarter of 2023, Speaker Ferdinand Martin G. Romualdez said Friday.

He made the statement in reaction to the report of the Philippine Statistics Authority (PSA) that the economy grew by 6.4 percent in the first three months of this year.

The House leader assured the people that the economy remains on the high-growth path.

Romualdez pointed out that the high-growth quarters and the first quarter of this year represent the first nine months of the Marcos administration.

“The average economic expan- sion during that period is 7.07 percent, which is a respectable growth rate that is slightly higher than the median of last year’s growth target of 6.5 percent and 7.5 percent. So the economy is in good hands,” he said.

The Speaker added that the government is expected to ramp up spending, especially on infrastructure and social services.