Manila: The government's catch-up spending plan, along with the targeted subsidies program, likely helped improve personal optimism among Filipinos, based on the latest Social Weather Stations (SWS) survey. Results from the survey conducted between June 20-29, 2026 showed 48 percent of adult respondents expecting a better quality of life in the next 12 months, with a net personal optimism score of +40, up from +23 in the survey conducted last March.
According to Philippines News Agency, the June 2026 net personal optimism score of excellent +40 percent is the highest after the +41 excellent in June last year. Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort highlighted that government programs aimed at improving people's economic situation, particularly in sectors like transportation, agriculture, and fisheries, play a significant role in enhancing their welfare.
Ricafort emphasized that more sustainable and structural solutions, such as education and nutrition programs, are crucial for lifting people from poverty. These initiatives could help increase the completion rate for the poorest, enabling them to secure employment and sustainably elevate their families from poverty.
He further stressed the importance of creating an environment conducive to job opportunities, investments, and business growth to further reduce poverty levels. In terms of economic growth, Ricafort noted that the national government's increased infrastructure spending could be a major catalyst for faster GDP growth, countering the effects of geopolitical risks that have led to higher prices and interest rates.
Additionally, Ricafort mentioned the need for passing more priority reform measures to improve governance standards and boost investor confidence. These efforts should align with the country's goal of achieving upper middle-income status after nearly 40 years.
Looking ahead, Ricafort highlighted technology as a key equalizer, alongside education, in lifting people from poverty. By enhancing productivity and incomes in the agriculture and manufacturing sectors through advanced global technologies, the country could increase competitiveness, improve food security, and reduce inflation.
