Economy

The Marcos administration is ramping up workforce development efforts, expanding skills training, job matching, and wage initiatives as it seeks to improve employment quality and prepare Filipino workers for the changing demands of the economy.

The Department of Finance (DOF) has assured local government units (LGUs) that the Real Property Valuation and Assessment Reform Act (RPVARA) will not automatically increase property taxes, seeking to dispel concerns that the landmark reform could burden taxpayers and undermine local fiscal autonomy.

The Philippine Economic Zone Authority (PEZA) has reinforced its standing as one of the government's top-performing state corporations, remitting P1.44 billion in dividends to the National Government for fiscal year 2025 and posting its third straight billion-peso payout.

International Trade Centre (ITC) programs have generated more than USD200 million in business and investment leads for Philippine micro, small, and medium enterprises (MSMEs), highlighting how targeted trade assistance is helping local firms break into global markets despite an increasingly uncertain trading environment.

The Asian Development Bank (ADB) has cut its growth forecasts for the Philippines, warning that the economic fallout from the Middle East conflict is dampening investments, squeezing consumer spending, and stoking inflation, even as the country remains one of Southeast Asia's fastest-growing economies.