Philippine Cabinet Resignations: Business Leaders Support Economic Team

Philippine Cabinet Shakeup: Courtesy Resignations Submitted Amidst Business Sector Support for Economic Team The Philippines witnessed a significant political development on May 23, 2025, as 52 members of President Bongbong Marcos' cabinet submitted courtesy resignations. This action, while not automatically leading to dismissals, signals a potential reshuffle of the administration's leadership. The situation has sparked reactions from various sectors, including the business community. Several major business groups have voiced their support for the current economic team. "We believe that what they're doing and what they are planning to do is on the right track in improving our economy," stated Eunin Mangio, President of the Philippine Chamber of Commerce and Industry (PCCI). This statement underscores the business sector's confidence in the economic team's performance and its contribution to the country's economic progress. The decision to retain or replace members of the economic team will likely be based on performance evaluations, according to various sources. This approach emphasizes meritocracy and efficiency in government service, aligning with the administration's commitment to good governance. Cecilio Pedro, Immediate Past President of the Filipino Chinese Chambers of Commerce and Industry (FFCCI), added, "Choosing the right people is a key to moving forward. So, we're always in favor of change." This quote reflects the business sector's desire for a competent and effective government. The situation highlights the ongoing dynamics within the Philippine government and the importance of maintaining stability and economic growth. The business community's support for the current economic team suggests a cautious approach to any potential cabinet reshuffle, prioritizing performance and stability.