Amid flood control mess, Cebu economy strong, Recto says
Amid flood control mess, Cebu economy strong, Recto says
By: Morexette Marie B. Erram - CDN Digital Senior Multimedia Reporter|September 19,2025 - 07:02 PM
Finance Secretary Ralph Recto reports Cebu’s economic outlook during the BSP’s Philippine Economic Briefing held in a hotel in North Reclamation Area (NRA) in Cebu City on September 18, 2025. | Photo from Department of Finance
CEBU CITY, Philippines – Calling it the nation’s ‘powerhouse’, Finance Secretary Ralph Recto expressed optimism about Cebu’s economy amid controversies on alleged corruption tied to flood control projects.
Recto hailed the island province for leading Central Visayas in terms of economic growth, at a rate of 7.3 percent for two straight years — outpacing the national average.
“Cebu has outgrown its role as a regional hub. It now stands as a national powerhouse that competes, creates, and connects the entire Philippines to the world. And as Cebu raises the bar, the national government is fully prepared to match the dynamism,” he said.
In his speech, the Department of Finance (DOF) chief reported other economic achievements and key strategies in how Cebu can tap into its full economic potential. These include implementing ease-of-doing-business practices as well as improving infrastructure.
“With all of these transformative reforms and polices in place, Cebu and the whole of the Philippines are more than ready. Ready with its talent, ready with its infrastructure, and ready with the drive to grow your business,” he added.
Meanwhile, Recto hoped that the economic momentum of Cebu, and the entire country as well, would not be adversely affected by the ongoing flood control mess.
“I hope not… Nevertheless, the good news is that nakita nang Pangulo (Bongbong Marcos) at ang Pangulo mismo ang nakakita sa korapsyon dito sa flood control at naayos natin yan,” he explained.
Likewise, officials at the DOF assured that the flood control controversy had not impacted foreign direct investments and foreign pledges both in Cebu and in the Philippines.
As of now, foreign investors continue to express interest in setting up businesses in the country, they added.
Recto visited Cebu on September 18 to deliver a rosy outlook on the island province’s economy during the Visayas leg of the Philippine Economic Briefing of the Bangko Sentral ng Pilipinas (BSP).
The PEB is the government’s platform to update investors on the country’s economic outlook and investment opportunities, with the end goal of attracting more investors into the Philippines to create more jobs and drive economic growth, the DOF stated in its briefer. /csl
Source: https://cebudailynews.inquirer.net/658263/amid-flood-control-mess-cebu-economy-strong?fbclid=IwY2xjawNBfIFleHRuA2FlbQIxMQABHiu6RK65V0_gQERZdTapKakuGew228yFnPIoxSCp3xMTg4WP5_EHbXM6eHRz_aem_BJJ78NGbSHg_IeY0UJ-lDg
