Malacañang struck a defiant tone, insisting the government can still win over investors and the public even as corruption scandals drag down economic growth and stall major projects.
The Palace’s remarks came after the Philippines posted its weakest annual growth rate under President Bongbong Marcos, with gross domestic product slowing to 4.4 percent — the lowest post-pandemic performance so far. Economic managers have linked the downturn to shaken confidence following a major corruption scandal at the Department of Public Works and Highways, which forced the government to pause locally funded construction projects and tighten spending controls.
Socioeconomic Planning Secretary Arsenio Balisacan earlier acknowledged that the controversy had eroded trust among consumers and businesses, weighing heavily on growth. Despite this, Malacañang maintained that the administration’s response would ultimately reassure investors.
Palace Press Officer Claire Castro said the government believes investors are watching how the administration is confronting corruption, even as critics argue that few individuals have been arrested or detained so far.
“Sa ating pagkakatingin, nakikita po ng mga investors kung paano po nililinis ng pamahalaan ngayon, kasalukuyang administrasyon, ang ating bansa mula sa korapsyon, sa isyu ng pang-aabuso sa pondo ng bayan,” Castro said, adding that the same message is meant to restore public confidence.
The Palace said Marcos recently met with his economic team to assess the latest GDP figures and agreed that the government must move forward. As part of that push, the president ordered the fast-tracking of infrastructure projects, with particular focus on classroom construction.
