Manila: Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan emphasized the need for reforms to ensure resilient and transformative progress despite the robust growth of the Philippine economy. Speaking at the 2025 Economic Journalists Association of the Philippines Economic Forum in Manila, Balisacan highlighted the importance of building diverse economic pillars and equipping the workforce for future challenges.
According to Philippines News Agency, the Philippine economy experienced a 5.5 percent growth in the second quarter, resulting in a 5.4 percent gross domestic product (GDP) expansion for the first half of the year. However, Balisacan noted that the growth is primarily driven by household consumption and emphasized the need for investments and exports to serve as additional pillars for sustained growth.
Balisacan identified the geographic concentration of economic activity as another challenge, with Mega Manila, comprising Metro Manila, Central Luzon, and Calabarzon, consistently accounting for over half of the country's GDP since 2000. He advocated for nurturing regional economies to create new growth hubs, which would help build a balanced and resilient economy capable of withstanding localized shocks.
Furthermore, Balisacan stressed the importance of productivity enhancement and workforce preparedness for advancements in artificial intelligence and robotics. He stated that achieving diversified, inclusive growth requires bold reforms, strong investments, and an unwavering focus on securing a stable, comfortable, and secure life for all Filipinos.