The economy remains fundamentally strong. The foundations are stable. The opportunities for investments are intact. Above all, the government’s commitment to good governance, transparency, and accountability has never been more resolute.
We are not blind to the challenges, nor are we shaken by them. What you see today is not a leadership crisis, but a government reforming itself from within, led by a President who chose to be the whistleblower, not the apologist, of corruption.
For we understand that trust is the lifeblood of any economy. It keeps investments coming in, businesses expanding, and jobs growing. And this trust is being protected, strengthened, and rebuilt every single day by the Marcos administration.
We hear you loud and clear. The Filipino people demand accountability and reform, and we answer with decisive action. For these are non-negotiables for long-term growth.
That is why, the President himself has assured, that before year-end, those who broke the public trust in handling the people’s money will face justice.
The President has guaranteed that cases will be filed, masterminds named, and accountability delivered.
This cleansing ensures a government that is efficient, transparent, and responsible in spending moving forward.
In the short term, we are implementing a comprehensive catch-up plan to align disbursements with national priorities and accelerate economic growth.
And as budget hearings continue, we urge Congress to pass a 2026 national budget that reflects our priorities and reform agenda.
We must prioritize spending with the highest multiplier effects, enforce fiscal discipline, and impose targeted austerity on travel, MOOE, and non-essential expenses for us in the government.
The national budget is the most powerful lever of our growth story—and we will wield it responsibly. These are your hard-earned money entrusted to us, and we will make sure to protect it and spend on programs and projects that will benefit each and every one of you.
Essential and targeted public services will continue uninterrupted. High-impact infrastructure projects, including school buildings, will proceed. Our Official Development Assistance projects will continue and even accelerate.
Critical infrastructure in areas damaged by recent calamities, will be rebuilt without delay, with a clear budget, timetable, and publicly available action plan.
And we heed the call of the people. Moving forward, we will prioritize good governance reforms.
This administration will work with Congress to pursue the anti-political dynasty law, rationalize and strengthen the party-list system, enforce campaign finance transparency, institutionalize freedom of information, and—most importantly—eliminate all unprogrammed appropriations except those essential for emergencies.
We are also intensifying our fight against tax evasion and smuggling. The BIR and BOC will aggressively pursue major cases with time-bound investigations and swift prosecution. No delays. No exemptions. No sacred cows. We will see results.
Above all, we assure the Filipino people that our fiscal consolidation path is on track, and everything moving forward is on the upside. We will bring down our deficit and debt gradually, while creating more jobs, increasing our people’s income, and lifting more Filipinos out of poverty.
In fact, we are seeing clear progress. Inflation remains very low at 1.7%, and at -0.4% for the bottom 30% of households in October. This stability allows the BSP more room to cut interest rates, boosting household spending and economic growth. Wage and salary workers—those with stable, formal jobs—continue to dominate employment at 64.1% or 31.8 million of 49.6 million total employed, showing the economy’s ability to generate secure livelihoods.
In addition, the economy is growing much faster than the true cost of our debt. By the end of 2025, the real interest rate we pay is estimated at only 3.3%, while our economy is expected to grow by 4.7 to 4.8%. That means we have more than enough capacity to pay what we owe, and our debt remains manageable, stable, and sustainable for the long run.
So let there be no doubt: This is a government that cleanses itself from within, honors your trust, and safeguards the future of every Filipino.
This is a government that listens, acts decisively, and puts the national interest above all else. And this is a government that will deliver on its promises—without fear, without favor, without hesitation.
Mabuhay po kayong lahat. Mabuhay ang Bagong Pilipinas!
