<\/p>\n
<\/p>\n <\/p>\n The leader of the 300-plus-strong House of Representatives expressed his optimism about the country\u2019s economic trajectory, highlighting the collaborative efforts between the executive and legislative branches as key drivers of this growth.<\/strong><\/p>\n <\/p>\n <\/p>\n \u201cThe 6.3 percent economic growth rate shows the effectiveness of President Bongbong Marcos’ economic strategies and the solid legislative support of Congress. Our economy is steadily recovering and growing, creating more job opportunities and improved quality of life for Filipinos,\u201d Speaker Romualdez said.<\/strong><\/p>\n <\/p>\n <\/p>\n With the country\u2019s GDP growth accelerating to 6.3% in the second quarter, Speaker Romualdez highlighted the impressive performance of various economic sectors, particularly industry and services, which posted year-on-year growth rates of 7.7% and 6.8%, respectively.<\/strong><\/p>\n <\/p>\n <\/p>\n These sectors, according to the House chief, are crucial for job creation and daily economic activities.<\/strong><\/p>\n <\/p>\n <\/p>\n “Ang pag-angat ng sektor ng industriya at serbisyo ay napakahalaga dahil nagbibigay ito ng maraming trabaho na importante sa ating pang-araw-araw na buhay. Ang patuloy na paglago ng mga sektor na ito ay patunay ng tiwala ng mga Pilipino sa ating ekonomiya at sa kinabukasan ng bansa,” he said.<\/strong><\/p>\n <\/p>\n <\/p>\n Speaker Romualdez also noted the significant increase in household consumption, which rose by 4.6%, indicating a boost in consumer confidence and spending. He pointed out that government spending surged by 10.7 percent, reflecting the administration\u2019s commitment to public services and infrastructure development.<\/strong><\/p>\n <\/p>\n <\/p>\n \u201cOur government\u2019s focus on infrastructure projects and public services is paying off. The substantial growth in government spending underscores our dedication to building a better future for all Filipinos,\u201d he said.<\/strong><\/p>\n <\/p>\n <\/p>\n The construction sector, a vital component of the economy, saw a meteoric rise of 16%, creating numerous jobs and laying down the foundation for long-term economic prosperity.<\/strong><\/p>\n <\/p>\n <\/p>\n Transportation and storage, along with other services, experienced significant growth of 14.8% and 10.5%, respectively. Despite these gains, Speaker Romualdez acknowledged the challenges faced by the agriculture sector, which contracted by 2.3% due to the El Ni\u00f1o phenomenon. He reiterated the government\u2019s commitment to supporting farmers and fishermen to ensure their resilience and productivity.<\/strong><\/p>\n <\/p>\n <\/p>\n \u201cHindi namin ipagwawalang-bahala ang mga hamon sa sektor ng agrikultura. Ang administrasyong ito ay nakatuon sa pagbibigay ng sapat na suporta sa ating mga magsasaka at mangingisda upang matulungan silang makabangon at umunlad,\u201d the House leader said.<\/strong><\/p>\n <\/p>\n <\/p>\n He also pointed out the 4.2% decline in exports, as he stressed the need to enhance the country\u2019s global competitiveness.<\/strong><\/p>\n <\/p>\n <\/p>\n \u201cAs we celebrate these achievements, we must also address the areas where we need to improve. Strengthening our global competitiveness is crucial to sustaining our economic growth,\u201d he said.<\/strong><\/p>\n <\/p>\n <\/p>\n Speaker Romualdez reaffirmed the House’s commitment to working closely with the executive branch to implement policies that will maintain and accelerate this growth momentum.<\/strong><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" SPEAKER Ferdinand Martin G. Romualdez on Thursday hailed the 6.3% annual growth of the Philippine economy in the second quarter of 2024 as an “encouraging<\/p>\n","protected":false},"author":1,"featured_media":7700,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/posts\/7699"}],"collection":[{"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/comments?post=7699"}],"version-history":[{"count":1,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/posts\/7699\/revisions"}],"predecessor-version":[{"id":7701,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/posts\/7699\/revisions\/7701"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/media\/7700"}],"wp:attachment":[{"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/media?parent=7699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/categories?post=7699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/journaldailynewsonline.com.ph\/index.php\/wp-json\/wp\/v2\/tags?post=7699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
SPEAKER Ferdinand Martin G. Romualdez on Thursday hailed the 6.3% annual growth of the Philippine economy in the second quarter of 2024 as an \u201cencouraging development,\u201d as he attributed this remarkable success to the strategic economic policies of President Ferdinand \u201cBongbong\u201d R. Marcos Jr. and the unwavering support of Congress.<\/strong><\/p>\n