ECCP at Work

Economic managers vow to push for more reforms
The economic team has committed to deliver results faster and ensure more inclusive and sustainable growth for Filipinos after President Marcos rejected their courtesy resignations.

FDA recommends temporary suspension of administrative order increasing fees
The Food and Drug Administration (FDA) said it recommended the temporary suspension of the new guidelines adjusting fees and charges for facility registration and Certificate of Product Registration (CPR) for health products.

PEZA seeks amendments to 29-yr old charter
As new members of Congress take office, the Philippine Economic Zone Authority (PEZA) has reiterated its call for the amendment of its 29-year old charter to hasten approval processes for ecozone development and strengthen the agency’s ability to attract foreign direct investments (FDIs).

NCR starts wage consultation ahead of July wage order anniversary
The DOLE has confirmed that consultations on whether current wages in Metro Manila remain sufficient have officially begun. In a recent interview, Labor Secretary Bienvenido Laguesma said the Regional Tripartite Wages and Productivity Board-National Capital Region has started its review of the prevailing minimum wage rates.

PHL should utilize RCEP as offensive strategy vs Trump economics
The Philippines should use the Regional Comprehensive Economic Partnership (RCEP) as its “offensive strategy” against “Trump economics”, according to an official of the Philippine Exporters Confederation, Inc. (Philexport).

DA, DOT crafting roadmap for pushing food, farm tourism
The DA and the DOT will develop a roadmap aimed at promoting food and farm tourism. The agencies formed a technical working group (TWG) that will create the roadmap within six months as part of the government’s efforts to bolster rural economies and generate countryside jobs.

Philippine economy remains resilient, IMF says
The International Monetary Fund said the Philippine economy remains resilient despite external challenges. However, the IMF flagged slower growth prospects in the near term due to subdued global demand and lingering uncertainties.

Resilient farm sector to thwart climate change
Tiu Laurel Jr. stressed the urgent need for the Philippines to adopt sustainable farming practices in light of intensifying challenges posed by climate change, population growth and shrinking farmlands. “These challenges are not distant threats,” the DA chief told the recent 2025 Sustainable Agriculture Forum hosted by the ECCP.

Budget utilization rate hits 92% at end of April
The DBM said the cash utilization rate posted by government agencies hit 92% in April. The National Government (NG), local governments, and government-owned and -controlled corporations used P1.49 trillion worth of notices of cash allocation issued as of the end of April.

BSP eyes point target for inflation
The Bangko Sentral ng Pilipinas (BSP) said it is looking at shifting to a point target for inflation, from the current 2-4% target band. The BSP is currently working with the International Monetary Fund (IMF) on studying the shift to a point target for inflation.

PHL current account deficit seen to narrow this year – IMF
The International Monetary Fund (IMF) expects the Philippines’ current account deficit to narrow this year. Latest data from the Bangko Sentral ng Pilipinas (BSP) showed the current account deficit widened by 41.4% to $17.5 billion last year from $12.4 billion in 2023.

ERC Weighs Impact Of CA’s Barring Chief In Rate Reset
The Energy Regulatory Commission (ERC) is assessing the impact of the Court of Appeals order prohibiting the agency’s top official from taking part in the rate reset proceedings involving the National Grid Corporation of the Philippines (NGCP).

World Bank OKs new country partnership framework for Philippines
The World Bank will focus its support for the Philippines on basic services such as health and education, and on boosting the country’s resilience under the newly approved Country Partnership Framework (CPF) for the next six years.

Philippine growth could pick up in Q2 as consumption stabilizes — AMRO
Philippine economic growth could pick up this quarter as household consumption likely improved amid easing inflation, and as exporters may have frontloaded production amid the pause in US reciprocal tariffs.

Marcos urged to review transport infrastructure priorities
As President Marcos revamps his Cabinet, commuter and mobility groups said now is the best time for the infrastructure team to reassess what projects can be completed by 2028.

Agriculture chief backs retention of tariff until next harvest
Agriculture Secretary Francisco Tiu Laurel Jr. said the 15-percent tariff on imported rice may have to be retained until September to prevent a possible spike in domestic retail prices, as world prices slightly rose following the end of harvest abroad.

Two subway stations done within Marcos’ term – DOTr
The Department of Transportation (DOTr) is targeting to finish at least two stations of the Metro Manila Subway Project (MMSP) before President Marcos ends his term in 2028.

Smart cities must grow from the ground up, says DOST chief
Rather than imposing high-tech solutions from the top down, the head of the science agency called for locally grounded innovations to shape the future of smart communities.

Monetary policy not enough to shield PHL from trade shocks
Monetary policy may not be enough to cushion the economy from the potential impact of trade shocks, the Bangko Sentral ng Pilipinas (BSP) said.

Smart cities must grow from the ground up, says DOST chief
Rather than imposing high-tech solutions from the top down, the head of the science agency called for locally grounded innovations to shape the future of smart communities.