Speaker Martin G. Romualdez on Thursday said the united effort of the executive and legislative branches of the government is a major contributing factor to the country’s strong economic performance as he elcomed the latest World Bank forecast indicating faster than expected growth this year.
According to the World Bank, the Philippines’ gross domestic product (GDP) is expected to grow 6 percent this year, upgrading its previous forecasts of 5.4 percent in December and 5.6 percent in April.
“This upgraded forecast reinforces the positive trajectory of the Philippine economy and demonstrates that we are on the right track towards recovery and progress. It is a testament to the resilience of our people, the dynamism of our businesses, and the stability of our economic fundamentals,” Romualdez said.
“The comprehensive and inclusive economic agenda of the administration of President Ferdinand R. Marcos, Jr., as well as the collaborative efforts between the executive and legislative branches, have proven fruitful in fostering an environment conducive to growth,” he added.
The Speaker also commended the collective efforts of the country’s economic managers, lawmakers, and all stakeholders who have contributed to this positive development.
“As the House amply demonstrated, we remain committed to implementing policies that will further stimulate economic activity, attract investments, and generate employment opportunities for our fellow Filipinos,” Romualdez said.
“We will not allow any distraction to derail our efforts at finding appropriate and timely solutions to the problems affecting the lives of our people,” he added.
The House posted a strong finish as it closed the First Regular Session of the 19th Congress, having approved 33 out of 42 bills listed as priority measures of President Marcos and adopted by the Legislative-Executive Development Advisory Council (LEDAC).
It was also able to process a total of 9,600 measures consisting of 8,490 House bills, 1,109 resolutions and one petition.