The government on Monday says the economy remains solid, with stable foundations and strong investment prospects. Finance Secretary Ralph Rector frames the current controversies as part of an internal reform effort led by the President, who has vowed to expose—not shield—corruption.
Recto stressed that trust is essential to economic growth and promised accountability before year-end, including filing cases and naming those behind the misuse of public funds. He said these reforms will ensure more efficient and transparent spending moving forward.
A catch-up plan is underway to accelerate priority spending, and the administration is urging Congress to pass a 2026 budget focused on high-impact programs, fiscal discipline, and reduced non-essential expenses. Key services and major infrastructure projects, including school buildings and calamity-related repairs, will continue without delay.
Recto and other Cabinet members pledged to pursue broader governance reforms—such as an anti-political dynasty law, stronger campaign finance rules, and institutionalized freedom of information—while removing most unprogrammed funds. He also promised tougher action against tax evasion and smuggling through swift, time-bound prosecutions.
Recto cited improving economic indicators: low inflation, stable job growth driven by wage earners, and a debt burden that remains manageable as projected 2025 growth outpaces real interest rates.
He concluded by reaffirming commitment to transparency, decisive action, and protecting the public’s trust as the administration advances its reform agenda.
