The National Economic and Development Authority (NEDA) emphasized the Philippines’ positive economic performance under President Bongbong Marcos Jr., despite increasing self-rated poverty and hunger among Filipinos.
In a News5 report, NEDA Secretary Arsenio Balisacan described the country’s economic growth as “quite inclusive” and noted its strong performance compared to other Asian nations. However, he acknowledged that external factors, including typhoons and disrupted industries, likely contributed to falling short of the 2024 gross domestic product (GDP) target.
Economic growth for the first three quarters of 2024 reached 5.8%, but the annual growth target was adjusted to 6%–6.5%, down from the initial 6%–7%.
President Marcos, during a recent meeting with NEDA at Malacañang, expressed pride in the country’s economic achievements, highlighting the need to better communicate these accomplishments to the public.
Meanwhile, a survey by OCTA Research Group reported that over 13 million Filipino families rated themselves as poor in the fourth quarter of 2024, a 17% increase from the previous quarter. Self-rated hunger also rose to 16%, affecting 4.2 million families.
