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Saturday, January 17, 2026 Vol. 21 No. 97
‘BIG, BOLD REFORMS’ TO SHOW PHL BIZ RESOLVE
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INFRA SPENDING FOR Q1 SEEN AT P250B—DIZON
By Reine Juvierre S. Alberto
T
HE national government unveiled a slate of its “big, bold reforms” to address investor concerns and renew its push for investments amid last year’s economic growth slowdown. The Philippine economic team organized the “Big Bold Reforms: The Philippines 2026” event on Friday, which convened key officials from the Marcos Jr. Cabinet, heads of government agencies and top leaders from the business community. In a press briefing after the forum, Finance Secretary Frederick D. Go said the dialogue’s objective is to “inspire optimism, renew investor confidence and encourage greater investments in the Philippines.” “Despite the challenges of the past year, our long-term fundamentals remain strong and intact. Our stable macroeconomic environment, enabling policies and a dynamic workforce provide a solid foundation for sustainable growth,” the Finance chief said. Economic managers presented a series of “big, bold” reforms to improve the ease of doing business by reducing costs and building the necessary infrastructure for businesses to flourish, Go said. “This is a clear signal that the Philippines is moving forward de-
DPWH Secretary Vince B. Dizon, on spending discipline: “On our end, for DPWH, we will ensure that that money, whatever ceiling we will be given for the first quarter, will be spent on the right things.” DPWH
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FINANCE Secretary Frederick D. Go (center) shared the government’s “big, bold reforms” with the press. Go was joined by Department of Public Works and Highways (DPWH) Secretary Vince B. Dizon (left) and Department of Transportation Acting Secretary Giovanni Z. Lopez (right). REINE ALBERTO
BY THE NUMBERS: ’BIG, BOLD REFORMS’
GDP Growth Comparison: Philippines vs Global/Asean 5.0%–6.0% 4.8%–5.0%
3.8% 2.9%
PHL estimated full-year 2025 growth
PHL government growth target for 2026
Global average GDP growth
Asean average GDP growth BM Graphic: Ed Davad/Source: DOF
cisively and not being distracted,” he added. The Philippine economy grew by 4 percent in the third quarter of 2025, below the government’s 5.5 to 6.5 percent target, amid slower spending and dampened investor sentiment following corruption allegations linked to the government’s flood control projects. Department of Economy, Planning and Development Secretary Arsenio M. Balisacan said the economy likely expanded by 4.8 to 5 percent in 2025. This year’s economic growth target was also adjusted to 5 to 6 percent due to global uncertainSee “Big, Bold,” A2
Growth, faster disaster response among the gains of Globe, Starlink D2C service By Samuel P. Medenilla & Lenie Lectura
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HE new service from Globe Telecom allowing cellphones to directly connect to Elon Musk’s Starlink Services, LLC. satellites for internet service can spark economic growth and faster disaster response in more parts of the country, according to President Ferdinand Marcos. On Friday, Globe and Starlink signed a Memorandum of Agreement (MOA) for the launching of the Direct-to-Cell (D2C) service, which will be the first in Southeast Asia and second in Asia, at the Bonifacio Global City, Taguig. Prior to the new agreement, Starlink customers accessed the internet through their user terminal. The partnership of Globe Telecom Inc. and Starlink was formalized Friday during the signing of the MOA between Globe president and CEO Carl Cruz and Starlink senior partnerships manager Damien Innes. President Marcos Jr. witnessed the ceremonial MOA signing. Marcos said the D2C is a game changer since it will allow more Filipinos to go online and have basic internet access, such as messaging and data. He said it can be used by businesses, particularly those in the countryside, to access bigger mar-
NFRASTRUCTURE spending is planned at about P250 billion in the first quarter, with officials betting that more disciplined and better-targeted outlays will help revive economic growth. In a press briefing on Friday, Department of Public Works and Highways (DPWH) Secretary Vince B. Dizon said the agency is targeting to spend anywhere between P200 billion and P250 billion in the first quarter of 2026. “On our end, for DPWH, we will ensure that that money, whatever ceiling we will be given for the first quarter, will be spent on the right things,” Dizon said. The country’s economic team held the “Big Bold Reforms Business Forum” on Friday, which gathered the private sector and the country’s top business leaders. See “Infra,” A2
BY THE NUMBERS: INFRASTRUCTURE RESET
P1.113T
P529.595B
Value of alleged “ghost” and substandard flood projects (2016–2025)
P79B DPWH budget in 2025
DPWH budget for 2026
BM Graphic: Ed Davad/Source: DPWH
Another oil price hike looms; Iran jitters cited
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NOTHER fuel price increase looms next week. The Department of Energy (DOE) said Friday that based on the four-day trade monitoring in the Mean of Platts Singapore, there could be an increase of P0.60 per liter for gasoline, P1.35 per liter for diesel, and P1 per liter for kerosene. DOE Oil Industry Management Bureau Assistant Director Rodela Romero said the numbers do not reflect the operating costs of oil firms and other premiums. “Crude oil and finished petroleum products have a short-lived upswing this week driven primarily by fears of an escalation in tension in Iran, which could disrupt crude supplies from OPEC’s 4th largest producer.
This news contributed to the estimated adjustments for next week in the domestic pump prices and based on the 4-day trading in MOPS only,” she said. Oil firms adjust their prices every week to reflect movements in the world oil market. Jetti Petroleum Inc., meanwhile, said internal estimates point to an increase of P1.80 to as much as P2 per liter for diesel. Gasoline prices may also go up anywhere between P1 per liter to P1.20 per liter. Jetti President Leo Bellas said the prices of crude oil and refined fuel products have increased significantly this week due to the volatile and unpredictable environment arising from the simultaneous geopolitical tensions in Venezuela, See “Oil Price,” A2
PRESIDENT Ferdinand Marcos Jr. (center) witnesses the ceremonial signing of a Memorandum of Agreement for the launch of Globe and Starlink’s Direct‑to‑Cell (D2C) satellite service at Bonifacio Global City, Taguig, on January 16, 2026. Also onstage (left to right) are Globe president and CEO Carl Cruz, DICT Secretary Henry Aguda, Globe chairman Jaime Augusto Zobel de Ayala, District Representative of the City of Taguig Jorge Daniel Bocobo, and Starlink senior partnerships manager Damien Innes. The partnership aims to expand internet access to underserved areas, boost economic opportunities, and enhance disaster resilience. SCREENSHOT VIA RTV MALACAÑANG FACEBOOK
kets and other services from the private sector and the government, allowing them to enhance and expand their operations. “Because when connectivity reaches the countryside, it generates jobs, attracts investments, and brings essential services closer to the people,” the chief executive said. The new service, he said, also has implications when it comes to mitigating the impact of the disasters.
“During typhoons and disasters, there seems like a natural use for this system. When cell towers can fail and networks can go silent—this service can mean the difference between isolation and connection, between uncertainty and reassurance,” Marcos said. “But we cannot speak of progress when so many parts of our country remain disconnected. And this is why digital inclusion is im-
portant. It is a responsibility. And it is a key priority of this government,” he said. The D2C, he said, will complement government’s other initiatives to enhance connectivity by building more digital infrastructure such as the Department of Information and Communications Technology’s National Fiber Backbone project and Free Wi-Fi for All Program. See “Starlink,” A2
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PESO EXCHANGE RATES n US 59.4400 n JAPAN 0.3747 n UK 79.5664 n HK 7.6232 n CHINA 8.5304 n SINGAPORE 46.1562 n AUSTRALIA 39.8129 n EU 69.0098 n KOREA 0.0404 n SAUDI ARABIA 15.8507 Source: BSP (January 16, 2026)