President Ferdinand R. Marcos Jr. speaks before members of the Foreign Correspondents Association of the Philippines (FOCAP) and answers queries on various national and international issues during FOCAP's Presidential Luncheon at a hotel in Manila on August 14, 2026. Noel B. Pabalate, PPA Pool
MANILA — President Ferdinand Marcos Jr. met with his Cabinet on Wednesday, September 16 to discuss wide array of sectors concerning economic development as the country grapples with the effects of Middle East tensions such as the weakening of peso vs. dollar and soaring high prices.
Marcos Jr. on Wednesday afternoon presided over the 11th Economy and Development Council meeting which he chairs.
The council is “responsible for directing and providing overall policy direction on economic matters to achieve inclusive and sustainable economic growth and development,” according to the Department of Economy, Planning and Development.
Among those discussed during the meeting are infrastructure projects for the transportation sector, food security, education, workforce development and learning continuity, according to the Presidential Communications Office.
“Kabilang sa agenda ang mga pagbabago sa ilang PPP at Official Development Assistance projects para sa mga layuning ito,” it added.
Also discussed are the proposed guidelines for class suspension and resumption and onsite work that is “localized, evidence-based and responsive to hazards” in a bid to protect teachers and students as well as their learning and instructional time.
However, no word yet from the Palace whether the fuel excise tax was tackled during the meeting.
Earlier, Malacañang said the matter may be brought up during the meeting as the Development Budget Coordination Committee (DBCC) has yet to recommend to Marcos Jr. whether to suspend or reduce the fuel excise tax.
This comes after the Department of Energy earlier certified that Dubai crude prices have breached $80 per barrel which is a requirement for the government to suspend the excise tax on fuel.
The DBCC is part of the Economy and Development Council composed of the secretaries of the Department of Budget and Management, DEPDev, Department of Finance and the Executive Secretary.