President Ferdinand Marcos Jr. is set to deliver his fifth State of the Nation Address on Monday, marking his second‑to‑last public address. The speech is expected to review the administration’s accomplishments over the past four years and outline priorities for the next two. The address will be closely watched by economists and policymakers.
In his 2022 address, the president pledged a 6.5 to 7.5 percent GDP growth for that year and projected 6.5 to 8 percent growth through 2028. He also set targets for reducing poverty to nine percent or lower by 2028, shrinking the national government deficit to 3 percent of GDP by the same year, and bringing the debt‑to‑GDP ratio below 60 percent by 2025. A goal of achieving upper‑middle income status by 2024 with a per‑capita GNI of at least $4,256 was also announced.
The 2023 address highlighted a 7.6 percent growth rate in 2022, the highest in 46 years, and positioned the country among the fastest‑growing economies in Asia. Infrastructure projects were emphasized, including a 1,200‑kilometer Luzon Spine Expressway Network that would cut travel time between Ilocos and Bicol from 20 to nine hours. The Mega‑Bridge Program was also presented, featuring 12 bridges over 90 kilometers, such as the Bataan‑Cavite Interlink Bridge and the Panay‑Guimaras‑Negros Island Bridges.
During the 2024 speech, the president reported a poverty rate decline to 15.5 percent from 18 percent in 2021, a reduction that lifted approximately 2.5 million Filipinos out of poverty. He noted that the number of citizens unable to afford sufficient food fell by more than 1.7 million. The administration pledged to continue efforts to further reduce poverty and improve food security.
In 2025, the focus shifted to job creation and entrepreneurship. The president promised continued investment in small businesses and microenterprises through low‑interest, collateral‑free loans. He also committed to supporting nearly two and a half million impoverished families in establishing their own small businesses.
Economic performance has shown a slowdown, with average GDP growth falling from 6.6 percent in 2022‑2023 to 2.8 percent in the first quarter of this year. A large‑scale flood‑control scandal and concerns about infrastructure corruption have dampened business and investment sentiment.
Comparatively, several Asian economies maintained stronger growth into 2026. Vietnam recorded 8.4 percent, Malaysia 5.8 percent, Singapore 5.7 percent, and China 4.3 percent in the second quarter of 2026. These figures contrast with the domestic slowdown.
Inflation peaked at 4.8 percent this year, the highest among Asian peers, while the public debt
