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The Marcos, Jr. administration overcame one of its biggest challenges in 2023—elevated inflation due in part to the disrupted global markets that resulted in supply chain bottlenecks—through carefully crafted inflation mitigation measures anchored on mitigating the impact on vulnerable populations.
The Marcos, Jr. administration has led the Philippines to become the fastest-growing economy among major Asian countries in 2023, defying global challenges such as elevated inflation and slower growth.
The Department of Finance (DOF), under the leadership of Secretary Benjamin E. Diokno, has led intensified climate action initiatives in 2023 amid escalating challenges of global warming.
Finance Secretary Benjamin E. Diokno has underscored that the swift enactment of the PHP 5.768 trillion General Appropriations Act (GAA) for 2024 is a testament to the strong collaboration and firm resolve of President Ferdinand R. Marcos, Jr.’s administration and members of both Houses of Congress to accelerate economic growth in the country.
Finance Secretary Benjamin E. Diokno has welcomed the United States Millennium Challenge Corporation (MCC)’s decision to re-engage with the Philippines through the development of threshold programs that will support policy and institutional reforms towards economic growth, highlighting that such move is a vote of confidence in the Marcos, Jr. administration’s commitment to strengthen democratic governance, uphold human rights, and combat corruption.
Finance Secretary Benjamin E. Diokno has highlighted the need to strengthen real property taxation to boost the financial capacity of local government units (LGUs) during the Key Stakeholders’ Dialogue on Collaborating for Local Government Commitment to the Local Governance Reform Project (LGRP) on December 11, 2023.
Key officials from the Philippine and Swedish governments jointly held a workshop on December 13, 2023 to explore potential opportunities for cooperation in financing key infrastructure and development projects in the Philippines to further strengthen the bilateral ties between the two nations.
The Philippines and the European Union (EU) convened the Third Meeting of the Sub-Committee on Development Cooperation in Brussels, Belgium on November 21, 2023. At the meeting, both the Philippines and EU emphasized their shared interests and values, as well as their commitment to continue their partnership through development cooperation under the EU-Philippines Partnership and Cooperation Agreement.