00:00 In the face of the changes being implemented in the country,
00:03 President Ferdinand R. Marcos Jr. is positive that the Philippine economy will not continue to decline.
00:11 And according to the President, they are not just doing it on a whim,
00:15 but they are eager to see a good result.
00:18 Kenneth Pacientes is in the center of the news.
00:24 President Ferdinand R. Marcos Jr. is confident that the Philippines will be able to use 8% GDP growth
00:30 under his term.
00:32 This is in front of him when the government is making progress
00:36 to strengthen and boost the country's economy.
00:39 He is not just planning what the government is doing.
00:43 Instead, he plans to have a good result as his target.
00:48 He just needs some adjustments to change the economy
00:52 so that he can achieve 8% GDP growth.
00:55 Even now, the President admitted that the country is still facing high inflation,
01:00 which he is now being supported by the government's under-reported agencies to control.
01:05 And because there is still an inflation threat,
01:08 the Executive Board decided that it is not yet time to lower the Philippines' interest rate.
01:15 Finance Secretary Ralph Recto said that despite the geopolitical tension,
01:20 the Philippines' economy in ASEAN remains a frontrunner
01:23 with a projected GDP growth of 5.8% to 6.3% this 2024.
01:30 He also implemented the government's Economic Liberation Measures
01:34 to strengthen investment to use 8% to 9% GDP growth in 2028
01:40 or at the end of President Marcos Jr.'s term.
01:44 The President is confident that the country will continue to run a good economy
01:48 and increase its GDP growth to 6%.
01:52 This is thanks to the policies laid down by the government
01:56 for the sake of the country's economy.
01:58 It is recorded that the country's GDP grew by 5.6% in 2023.
02:04 It is higher in China, Vietnam, and Malaysia.
02:08 Kenneth Paciente for Pambansang TV in the new Philippines.
