About a year ago, President Bongbong Marcos Jr. gave his third big speech to the country — his State of the Nation Address (SONA) — and he didn’t start with bragging. Instead, he gave people a reality check: even though economic numbers looked good, ordinary Filipinos still couldn’t feel it, especially with rice prices going sky-high.
“All these great numbers mean nothing to a Filipino who sees rice at ₱45 to ₱65 per kilo,” Marcos said on July 22, 2024.
He promised that his team would not stop fighting to bring down prices — especially rice, which is the most important food on every Filipino’s table.
So now that we’re in 2025, and the President is getting ready for his next SONA, how has the country actually done? Let’s break it down:
📉 INFLATION: Prices Are Cooling Down
Inflation means how fast prices of things go up — like food, electricity, gas, and more.
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In 2023, inflation was 6% — very high!
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By the end of 2024, inflation dropped to 3.2%, hitting the government’s target of 2–4%.
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And by June 2025, it went even lower to 1.8% — the lowest in years!
Food prices, especially, went down:
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From 6.5% food inflation in June 2024, it dropped to just 0.1% in June 2025.
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Rice was a big reason — rice prices actually had negative inflation (meaning they dropped!) at -14.3%.
🍚 RICE PRICES: Marcos Hits ₱20/kilo Goal… Kinda
One of Marcos’ biggest promises was ₱20 per kilo rice — and it’s finally happening in some places.
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In April 2025, the government launched subsidized rice in Visayas.
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As of now, 162 places nationwide are selling ₱20/kilo rice — but only to priority groups like poor families.
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This is done through KADIWA ng Pangulo outlets, using rice bought from local farmers by the National Food Authority (NFA).
Agriculture Secretary Francisco Tiu Laurel Jr. says they plan to reach 15 million households (about 60 million people) by 2026.
The program does two big things:
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Gives affordable rice to families in need.
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Helps the government clear out NFA storage to buy more rice from farmers at higher prices.
But critics like Sonny Africa from IBON Foundation say the program is not enough:
“It’s just PR if there’s no real money and resources behind it,” he warned.
Africa also pointed out that the agriculture budget dropped in 2025 — from 4.1% of the national budget in 2024 to just 3.9% this year.
📉 ECONOMY: Growth Is Slower Than Promised
The government wanted the economy to grow 6% to 7% in 2024. But it only grew by 5.7%, even after revising earlier numbers.
That’s now two years in a row that the GDP growth target was missed.
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In early 2025, growth was only 5.4%.
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Because of this, the government had to lower its expectations again — now aiming for 5.5% to 6.5% growth in 2025.
Why the cut?
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Tensions in the Middle East
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New US tariffs
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And other world problems that could affect trade and jobs
💰 Middle-Class Dream Still Out of Reach
The big dream is to turn the Philippines into an upper-middle-income country — a step up in global rankings.
But the country missed the mark by just ₱26.
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To be in that new status, the country needed $4,496 per person in income.
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Right now, the Philippines sits at $4,470 per person.
So close, but still not enough.
🧠 What’s Next?
President Marcos will give his 4th SONA on July 28, 2025, halfway through his term. People are now waiting to see if he will:
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Double down on rice subsidies?
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Fix the budget for agriculture?
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Or just give more feel-good speeches?
One thing is clear: the numbers are improving, but the real question is — do Filipinos feel it?
