ALBAY 2nd District Representative Joey Salceda expressed optimism on Thursday that the Philippine economy will see stronger growth in the second quarter, citing more stable global trade expectations and a potential rebound in capital formation.
In a statement, Salceda said the country has continued to hold up amid global economic challenges, but noted that growth in the first quarter was dampened by the election spending ban and international trade uncertainties.
“The Philippine economy continues to withstand global headwinds. I expect the numbers to pick up in the second quarter, especially capital formation, as expectations of Trump’s tariff regime become more stable,” Salceda said.
He noted that businesses postponed some of their expansion and investment plans due to uncertainties in the global trade environment, particularly with shifting U.S. trade policies.
To mitigate the impact of international market volatility, Salceda said he plans to recommend a package of economic measures to President Ferdinand Marcos Jr. These include streamlining export procedures, expediting the issuance of trade-related permits and documents, and improving access to existing tax incentives for businesses.
“These efforts are intended to help Filipino exporters and investors remain competitive and agile in the face of global uncertainties,” Salceda said.
While acknowledging the lingering effects of the election spending ban into the second quarter, Salceda remains confident that policy interventions and a more predictable global outlook will support a stronger economic performance moving forward.
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