Three years into his presidency, Ferdinand “Bongbong” Marcos Jr. has steered the Philippines through post-pandemic recovery toward sustained economic growth, with 2024 emerging as what officials describe as a “banner year” for the administration’s achievements.
Since taking office in June 2022, President Marcos has focused on economic recovery, infrastructure development, agricultural reform, and institutional modernization. The results speak for themselves: the Philippines positioned itself as one of the fastest-growing economies in Asia despite global uncertainties, with GDP growth reaching 5.4% in the first quarter of 2025.
Economic foundation and recovery
The administration’s economic strategy began with immediate post-pandemic recovery measures. President Marcos lifted lockdowns and mask mandates, reopened schools for face-to-face learning, and addressed inflation and food shortages that had constrained economic activity.
Key legislative achievements include the Maharlika Investment Fund, the Philippines’ first sovereign wealth fund, and ratification of the Regional Comprehensive Economic Partnership (RCEP) to boost trade opportunities. The CREATE MORE Act enhanced tax incentives, making the business environment more investor-friendly and competitive.
Finance Secretary Ralph Recto expressed confidence that the government would reach its 6% growth target for 2025, citing steady fiscal consolidation, easing inflation, rising private consumption, and a vibrant job market.
Institutional reforms and modernization
The administration implemented significant reforms to reduce bureaucratic red tape and improve government efficiency. Executive Order No. 18 established “Green Lanes” for strategic investments, fast-tracking permit processing across government offices. The digitalization push included achieving a 96.99% digitalization rate in the Bureau of Customs, significantly reducing corruption and improving trade facilitation.
These reforms contributed to a 70.64% increase in investment approvals, reaching PHP 3.54 trillion from mid-2022 to April 2025—the highest in the Board of Investments’ history.
Agricultural leadership and food security
President Marcos took the unprecedented step of serving as Agriculture Secretary, directly overseeing efforts to strengthen food security. The administration rejected controversial sugar imports, cracked down on hoarding, and provided financial relief to agrarian reform beneficiaries.
The results include record-breaking rice harvests each year, with distribution of over 130,000 land titles to farmers in the past two years. These efforts laid the groundwork for ambitious programs like the ₱20 rice initiative, launched in 2025.
Infrastructure and connectivity
The “Build Better More” program approved 194 infrastructure projects worth PHP 9 trillion, including public transport, water resources, and digital connectivity projects. Notable achievements include the inauguration of Phase 1 of the Cavite extension of LRT-1 and the interconnection of power grids across Luzon, Visayas, and Mindanao.
By early 2023, approximately 1.2 to 1.3 million housing units had been started to address the housing backlog, with 56 housing projects in various stages by February 2025.
Peace and order improvements
Crime rates dropped by 11.67% early in the administration’s term, with efforts to reform the “War on Drugs” approach and address concerns about abductions. These improvements contributed to a more stable environment for economic growth and investment.
The next three years
President Marcos has expressed satisfaction with the administration’s achievements while emphasizing the need to better communicate these successes to the public. The administration continues to focus on energy independence, securing agreements such as a US deal on nuclear technology, and maintaining diplomatic balance amid geopolitical tensions.
As the administration enters its fourth year, the foundation laid in economic recovery, infrastructure development, and institutional reform positions the Philippines for continued growth and improved quality of life for Filipinos.
