The Palace is pushing back against suggestions of alarm amid recent economic volatility, insisting it’s not in “panic mode.” Officials say the government remains confident in the country’s economic fundamentals even as markets experience turbulence.
Key points:
- Special Assistant to the President for Economic Affairs Frederick Go disputed claims that the stock market lost ₱1.7 trillion, calling those reports “fake news” and clarifying that the drop was much smaller.
- Malacañang sees short-term market swings as part of normal financial cycles and says its economic team is closely monitoring the situation.
- Echoing the Palace’s tone, the National Economic and Development Authority (NEDA) said political “noise” isn’t derailing the economy, signaling a steady hand amid uncertainty.