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Minimal impact seen in US aid halt
The National Economic Development Authority (NEDA) believes that the temporary suspension of US foreign aid by President Trump will have no significant impact on the Philippines' development projects.
NEDA Secretary Arsenio Balisacan stated that while the US is a key provider of grants, the direct effect on the Philippine economy will be minimal.
Balisacan explained that current loans are primarily sourced from other countries and multilateral institutions, not directly from the US.
He further clarified that US foreign assistance constitutes a small portion of the Philippines' total economic activities.
Potential indirect effects might arise from the US's influence in multilateral institutions like the World Bank and ADB, but these are anticipated to be medium-term.
Balisacan assured that major infrastructure projects, funded by Japan, Korea, ADB, and the World Bank, will remain unaffected.
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The Department of Foreign Affairs (DFA) is monitoring a 90-day freeze on US foreign assistance worldwide, announced by US President Donald Trump.
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Health Secretary Ted Herbosa stated that the temporary freeze on US foreign aid will have a minimal impact on the Philippines.
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Philippine Ambassador to the US Jose Manuel Romualdez assured Filipinos that there is no need to worry about the temporary suspension of US foreign assistance.
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