Urgent Bill Grants Emergency Powers.

As the Philippines takes on the ASEAN Chairship under the theme Navigating Our Future, Together, the country’s economic outlook is drawing international attention. The International Monetary Fund recently projected that the Philippine economy will grow, outpacing the average growth of its Southeast Asian neighbors. To protect this growth from global energy volatility, President Marcos recently certified an urgent bill granting emergency powers to reduce excise taxes on fuel. This allows for rapid intervention to stabilize transport and food costs during global supply shocks. In a unique local development, the Central Bank has partnered with the Philippine Space Agency. They are now using satellite imagery to assess climate risks, allowing the bank to better predict how typhoons or droughts might affect the financial stability of specific regions.

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