President Ferdinand Marcos Jr. on Thursday expressed hope to further transform the Philippine economy by ”gaining insights” from international consulting firm McKinsey & Company.

This comes as the President met with McKinsey & Company CEO Bob Sternfels during a courtesy call at Malacañang.

"Hopefully... that we will be able to gain something from your insights on the transformation of the Philippine economy,” Marcos said. “That's the process that we are presently undertaking.”

Global business management consulting company McKinsey & Company often counsels governments, companies, and organizations around the world.

Originally founded in 1926, McKinsey has functioned as a single worldwide partnership bound by a strong set of values and driven to provide positive, long-lasting change.

In its blog in March 2024, McKinsey & Company observed that "the Philippine economy was more resilient than expected in 2023" and that "current projections indicate that it could again achieve healthy growth in 2024."

With a growth rate of 5.6 percent at the end of 2023, the Philippines claimed that the country is the "fastest growing economy across Southeast Asia" despite falling below the government target of 6 to 7 percent.