LOWERED growth forecasts for the Philippines have highlighted the need for reforms that will allow the country to achieve its potential, the Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) said on Monday.
The business chamber was reacting to a recent report that De La Salle University economists had projected bigger slowdowns of 4.5 percent and 5.6 percent for 2026 and 2027, respectively, from 4.8 percent and 5.9 percent previously.
“This pace, below our nation’s potential, demands an immediate, unified response,” FFCCCII President Victor Lim said in a statement.
The business group proposed seven reforms, which it said would reignite confidence and accelerate inclusive growth:
– revolutionize manufacturing and agriculture by providing incentives for technology adoption and food security;
– enact systemic anti-corruption through genuine and transparent enforcement that will restore institutional trust;
– aggressively woo domestic and foreign investment by guaranteeing protections and ensuring the ease of doing business;
– launch a tourism renaissance master plan with world-class infrastructure;
– alleviate poverty by boosting investments in education, skills and universal health care;
– accelerate strategic infrastructure focused on ports, hubs and broadband; and
– champion green and digital transformation to position the country as a regional hub for sustainable tech.
“By uniting behind these reforms, we can build the resilient, soaring economy every Filipino deserves. The time for action is now,” Lim said.
Earlier this month, the FFCCCII urged the government to target 8-percent growth after Socioeconomic Planning Secretary Arsenio Balisacan said the goals for 2026 and 2027 had been trimmed to 5.0-6.0 percent and 5.5-6.6 percent from 6.0-7.0 percent.
“The goal of 8 percent remains the ideal benchmark of transformative progress, because a steadfast and collective drive toward 8 percent is the critical, immediate step that will change our momentum and define this decade,” Lim said.
