Amid peso devaluation and economic headwinds, President Ferdinand Marcos Jr. maintained that the economy remains robust, as the government’s economic team reported promising employment and poverty reduction rates.

At the 7th Economy and Development (ED) Council Meeting presided by the President in Malacañang Palace on Monday, economic managers said the country surpassed its target last year on job generation and poverty reduction.

The economic team’s report was relayed by Presidential Communications Office (PCO) Undersecretary and Palace Press officer Claire Castro, in a press briefing in Malacañang on Tuesday. Citing the report, she said the country’s unemployment rate went down to 4.7 percent in 2025 from 10.3 percent in 2020.

‘More Filipinos have jobs’

“This means more Filipinos have jobs,” Castro said.

Still quoting from the same report, she said the underemployment rate significantly dropped to 13.6 percent last year from 16.2 percent in 2020, indicating more Filipinos are finding suitable and sufficient employment.

Castro emphasized the government’s commitment to creating more high-quality jobs and to further reducing poverty to a single-digit figure in 2028.

Poverty incidence decreased, inflation manageable

According to the economic team, Castro said the number of poor Filipinos decreased by 2.4 million from 2021 to 2023. Poverty incidence was at 17.5 million in 2023, lower than the 19.9 million recorded in 2021.

At the same time, inflation remains manageable.

She said part of the administration’s strategic priorities for 2026 to 2028 includes accelerating the implementation of critical programs, activities, and projects (PAP) to address issues in priority sectors such as health, education, agriculture, and social protection.

For the medium term, Castro said the government aims to anchor PAP implementation on good governance principles by maximizing the use of technology, ensuring optimal use of resources, and delivering critical government services efficiently.