OECD Secretary-General Cormann;
Officials of the OECD;
Officials of the Philippine Government;
Partners from the academe and media;
Special guests, good morning.

On behalf of the Department of Finance and the Philippine Government, I warmly welcome you to the launch of the OECD Economic Survey of the Philippines.

Today marks an important milestone. For the first time, the Philippines joins the OECD Economic Survey series, alongside ASEAN peers such as Thailand, Indonesia, Malaysia, and Vietnam. This inclusion reflects the growing maturity of our economic framework and the confidence of the international community in the direction of our policies. It signals that the country is ready to measure itself against global standards and to keep raising the bar.

We are honored by the presence of OECD Secretary-General Cormann, and we thank the OECD team for their insights and close collaboration. Over the past year, this Survey was shaped through sustained engagement—from the kick-off and structural missions to policy discussions and peer review in Paris. The process fostered open dialogue, shared learning, and a deeper understanding of our reform priorities.

This process was not easy, nor was it meant to be.

It involved high-level discussions, technical scrutiny, and constructive challenges among Philippine agencies across government, including the Department of Finance, the Department of Economy, Planning and Development, the Bangko Sentral ng Pilipinas, and our social and sectoral partners.

Two of DOF’s employees were even seconded to OECD Headquarters to support this work. That alone signals how seriously we took this exercise.

The Philippines has set a clear ambition to triple per capita income by 2040. We are building on a solid foundation of sustained growth, poverty reduction, and macroeconomic stability.

The OECD Economic Survey offers a timely, evidence-based perspective on how we can accelerate this progress. Its message is clear and encouraging. With sound macroeconomic management and focused structural reforms, the Philippines is well positioned to sustain strong and inclusive growth.

This aligns closely with our policy direction. The government is now, more than ever, committed to fiscal discipline and smart spending. I am committed to reducing the fiscal deficit. This will be the DOF’s constant refrain from hereon.

It is not optional and requires a collective effort across government – to reduce inefficiencies and ensure that every peso funds productive, high-impact, and high multiplier programs that create jobs, drive growth, and deliver real benefits to every Filipino.

We are also continuing to make the Philippines a more open, competitive, and predictable business and investment destination. The Survey highlights priority reforms in competition, trade and investment, public governance, labor markets, and climate policy.

Several of these reinforce our efforts already underway, including the liberalization of foreign investment, stronger public private partnerships, modernized trade facilitation, and improved regulatory quality.

Climate resilience is a key priority for the country. Investments in adaptation, mitigation, and sound natural resource governance strengthen resilience and support sustainable growth.

Today is therefore more than launching a report.

Alongside the Economic Survey, we are also launching the OECD Philippines Action Plan under the Memorandum of Understanding signed last year. The Action Plan gives structure to our cooperation.

For the Department of Finance, this supports our approach to reform. We believe in evidence-based policy informed by global best practice and grounded in Philippine realities. Just as important, it reinforces the need for a whole-of-government approach and strong partnerships with the private sector, civil society, and our international partners.

To our OECD partners, thank you for your trust and continued partnership.

To my colleagues in government, thank you for your dedication and collaboration.

And to our stakeholders, we hope this Survey strengthens confidence in the Philippines as a country focused on reform, stability, and long term, inclusive growth.

The Philippine story is one of resilience and ambition. This OECD Economic Survey marks an important chapter, and the opportunities ahead are even greater.

I look forward to our discussion on how we continue turning insight into action.

Maraming salamat po at mabuhay ang Bagong Pilipinas!