May 8th, 2025
Office of Rep Joey Sarte Salceda
The Philippine economy continues to withstand global headwinds. I expect the numbers to pick up in the second quarter, especially capital formation, as expectations of Trump’s tariff regime become more stable.
The election spending ban had a bit of a drag on overall growth levels during the first quarter. I expect some lingering effects of that on the second quarter.
Businesses also put some of their plans on hold due to uncertainty over the world trade system.
I will be suggesting to the President a series of measures to ensure we can withstand global volatilities. Briefly, they should include measures to make exportation easier and cheaper, faster processing times for licenses, permits, and rules of origin documents for our trade, and easier availment of existing tax incentives.