SPEAKER Ferdinand Martin G. Romualdez has assured foreign investors and multilateral lenders that the House of Representatives will continue to approve measures that aim to sustain the country’s robust economic performance.

Likewise, Romualdez has welcomed the encouraging remarks made by Standard Chartered Bank Global Head of Public Sector and Developmen Organizations Karby Leggett, World Bank Country Director for Philippines, Malaysia, Thailand, and Brunei Ndiamé Diop, and International Monetary Fund (IMF) Deputy Director, Asia, and Pacific Department Sanjaya Panth during the presentation of President Ferdinand “Bongbong” Marcos Jr.’s economic team led by Budget Sec. Benjamin Diokno on the state of the Philippine economy.

“We are committed to passing more measures that the Marcos administration may need to further enhance investment in the Philippines aimed at improving the lives of Filipinos. I urge foreign investors to stay the course with us and share the benefits of progress and development,” Romualdez said.

During the briefing held at Fairmont in Washington D.C. Wednesday (United States time), Standard Chartered Bank, WB, and IMF officials cited the continued strong and resilient Philippine economy despite global challenges, including the COVID-19 pandemic and inflation.

Romualdez said the event was part of the Marcos administration’s whole-of-government approach to attracting more foreign investments that would create more income and job opportunities for Filipinos.

“I commend members of the economic team for this briefing. The United States is a major source of investments and funding assistance. The World Bank and IMF are likewise principal development funders,” he said.

He thanked the World Bank and IMF and several big multinational banks for helping organize the conference, the second held in Washington DC and the third in the US.

Other Philippine officials led by Ambassador to the US Jose Manuel Romualdez attended the event.

Members of the economic team who briefed the multilateral agencies, banks, and prospective investors were Diokno, Bangko Sentral ng Pilipinas (BSP) Gov. Felipe M. Medalla, Budget Secretary Amenah Pangandaman, and National Economic and Development Authority Director General Arsenio Balisacan.

In his remarks, Diokno said the 2022-2028 Medium Term Fiscal Framework, which Congress passed shortly after it convened in July last year, “serves as a compass to steer the economy closely along the patch of fiscal sustainability and economic growth.”

“The targets and measures under this framework are firmly supported not only by the President but also by both houses of Congress,” he said.

He cited economic liberalization measures Congress recently approved to attract more foreign investments, such as the amended Public Service Act, Foreign Investments Act, and Retail Trade Liberalization Act.

Last year, Diokno said the economy posted “a 46-year record-high growth rate of 7.6 percent.”

“This was higher than our full-year target of 6.5 percent to 7.5 percent and exceeded forecasts of local private sector analysts and international financial institutions, placing the Philippines among the best-performing economies in the Asia-Pacific region,” he said.