More jobs, increasing household income, and supporting more stable and productive businesses are expected as the Philippine economy posts strong growth in the first quarter of 2025 due to the aggressive economic efforts of President Ferdinand Marcos Jr.’s administration.
The country’s gross domestic product (GDP) grew by 5.4 percent in the first quarter of 2025, the Philippine Statistics Authority (PSA) said on Thursday. This resulted in more productive businesses, increased employment, and higher earnings for many Filipinos.
GDP measures the total monetary value of all goods and services produced within a country during a specified period, serving as a key indicator of economic health.
Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan said the Philippines ranked second among Asian economies that have released first-quarter data.
The Philippines trailed Vietnam (6.9 percent GDP growth), tied with China (5.4 percent) while outpacing Indonesia (4.9 percent), Malaysia (4.4 percent), and Thailand (2.8 percent).
Balisacan said the country’s performance “underscores the relative resilience of our economy in the face of global volatility.”
During the Labor Day celebrations, President Ferdinand R. Marcos Jr. cited the country’s vibrant economic performance, noting that the unemployment rate dropped to 4.3 percent in 2024, the lowest level recorded in the past twenty years.
The President noted that the unemployment rate dropped to 3.8 percent in February this year, showing that the labor market continues improving.
Since President Marcos took office in 2022, over 350,000 jobs have been created through various government programs and public-private partnerships, underscoring the administration’s commitment to strengthening the labor market and supporting Filipino workers.
Meanwhile, around US$27 billion in investments in the country were recorded from 2022 to 2024.
Various quarters have lauded the Marcos administration for its good stewardship of the economy, crediting robust growth to sound governance and policy reforms.
During the Alyansa Para sa Bagong Pilipinas rally in Lucena City on May 2, the President touted the Philippines as one of the fastest-growing economies in Asia, even exceeding the performances of big economies.
“Talo po natin ‘yung mga malalaking bansa. Talo po natin ‘yung mga mayayaman na bansa,” the President said. | PND
