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Marcos Says PH Economy Staying Strong Despite Global Oil Crisis, Inflation Risks
Photo credit: PCO
President Ferdinand Marcos Jr. expressed confidence Monday that the Philippine economy will remain resilient despite global economic uncertainties and the ongoing tensions in the Middle East, saying the government is stepping up efforts to secure fuel supply and protect consumers from rising prices.
Speaking to Japanese media at Malacañang, Marcos said the administration is recalibrating its energy strategy to ensure stable fuel supply as oil market volatility continues to affect economies worldwide.
According to the President, the Philippines is coordinating closely with fellow Southeast Asian nations and international partners to strengthen regional energy security measures, including emergency fuel supply systems and possible joint stockpiling arrangements.
“We are redefining the way we handle petroleum and fuel supply because the effects are widespread,” Marcos said, noting that global oil disruptions continue to impact transportation, food prices, and overall economic activity.
The President admitted that one of the government’s biggest concerns is the risk of economic stagnation combined with rising inflation, particularly in fuel and food prices.
“As everybody knows, inflation driven by oil is difficult to fully control,” he said, adding that the administration is now focused on keeping essential commodities affordable for ordinary Filipinos.
Marcos cited several interventions already in place, including fuel subsidies for the transport sector, efforts to stabilize prices of basic goods, and the implementation of a price ceiling on imported rice.
He stressed that supporting the transport sector remains a top priority because it is heavily dependent on fuel and plays a major role in keeping the economy functioning.
“The transport sector is the largest user of fuel, so it’s very important that we keep the economic system moving,” the President said.
Marcos also underscored the role of government spending in sustaining economic growth, saying public expenditures are being accelerated to support infrastructure projects, subsidies, and assistance programs for vulnerable sectors.
He added that the government is implementing cost-saving measures across agencies to help fund these programs without slowing down economic activity.
“Public spending is what will keep the economy rolling,” Marcos said, expressing optimism that growth will improve further in the coming months as government interventions take effect.
Despite the global economic challenges, the President said investor confidence in the Philippines remains strong due to ongoing policy reforms and improved incentives for foreign businesses.
Marcos also highlighted the importance of supporting micro, small, and medium enterprises (MSMEs), saying these businesses remain crucial in maintaining jobs and economic stability nationwide.
Speaking to Japanese media at Malacañang, Marcos said the administration is recalibrating its energy strategy to ensure stable fuel supply as oil market volatility continues to affect economies worldwide.
According to the President, the Philippines is coordinating closely with fellow Southeast Asian nations and international partners to strengthen regional energy security measures, including emergency fuel supply systems and possible joint stockpiling arrangements.
“We are redefining the way we handle petroleum and fuel supply because the effects are widespread,” Marcos said, noting that global oil disruptions continue to impact transportation, food prices, and overall economic activity.
The President admitted that one of the government’s biggest concerns is the risk of economic stagnation combined with rising inflation, particularly in fuel and food prices.
“As everybody knows, inflation driven by oil is difficult to fully control,” he said, adding that the administration is now focused on keeping essential commodities affordable for ordinary Filipinos.
Marcos cited several interventions already in place, including fuel subsidies for the transport sector, efforts to stabilize prices of basic goods, and the implementation of a price ceiling on imported rice.
He stressed that supporting the transport sector remains a top priority because it is heavily dependent on fuel and plays a major role in keeping the economy functioning.
“The transport sector is the largest user of fuel, so it’s very important that we keep the economic system moving,” the President said.
Marcos also underscored the role of government spending in sustaining economic growth, saying public expenditures are being accelerated to support infrastructure projects, subsidies, and assistance programs for vulnerable sectors.
He added that the government is implementing cost-saving measures across agencies to help fund these programs without slowing down economic activity.
“Public spending is what will keep the economy rolling,” Marcos said, expressing optimism that growth will improve further in the coming months as government interventions take effect.
Despite the global economic challenges, the President said investor confidence in the Philippines remains strong due to ongoing policy reforms and improved incentives for foreign businesses.
Marcos also highlighted the importance of supporting micro, small, and medium enterprises (MSMEs), saying these businesses remain crucial in maintaining jobs and economic stability nationwide.
May 19, 2026
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