DEPDev chief outlines roadmap for resilient, region-wide development

The Philippines is well-positioned for long-term prosperity if it can broaden its growth drivers beyond household consumption and Metro Manila, Department of Economy, Planning and Development Secretary Arsenio Balisacan told business journalists on August 11, 2025.

Speaking at the Economic Journalists Association of the Philippines (EJAP) forum themed “Midterm Momentum: Balancing Stability and Action”, Balisacan emphasized that sectoral and spatial diversification are “critical imperatives” for creating a more inclusive and resilient economy.

He said that strengthening manufacturing and higher value-added services will generate better-paying jobs and lift more Filipinos into the middle class. At the same time, spreading development beyond Metro Manila to emerging growth centers would reduce vulnerability to localized disruptions and unlock the potential of lagging regions.

“By nurturing regional economies and linking them to high-growth hubs, we not only build resilience but also create new opportunities for millions of Filipinos outside our major metropolitan areas,” Balisacan said.

The country’s strong fundamentals—steady economic growth, an improving labor market, easing inflation, and declining poverty—offer a solid foundation to embark on this transformation, he said.

“With strong fundamentals now in place, our task is to shape the kind of growth that will truly benefit our economy and the everyday lives of Filipinos,” he said.

Balisacan also underscored the need to boost productivity through modern infrastructure, new technologies, and continuous innovation. He called for strategic investments in quality education, robust healthcare, and job creation in sectors where human talent can work alongside artificial intelligence to remain competitive in a fast-changing global economy.

“Our mission is to ensure that growth is diversified, productivity-driven, inclusive, and powered by a future-ready workforce,” he said. “Staying this course will demand bold reforms, strong investments, and unwavering focus on our ultimate goal: a matatag, maginhawa, at panatag na buhay for all Filipinos.”

The forum gathered the country’s top economic managers, including Special Assistant to the President for Investment and Economic Affairs Frederick D. Go, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr., Finance Secretary Ralph Recto, and Budget and Management Assistant Secretary Romeo Balanquit, to share insights on the nation’s economic direction for the remaining years of the Marcos administration.