President Ferdinand Marcos Jr.’s administration had aimed for a GDP growth target of 6% to 6.5% in 2024. However, for the second consecutive year, the Philippines fell short after also missing its target in 2023.

The U.S. military has moved its Typhon launchers - which can fire multipurpose missiles up to thousands of kilometres - from Laoag airfield in the Philippines to another location on the island of Luzon,

The Typhon missile system was deployed by U.S. forces to the Philippines in April last year as part of their Balikatan or "shoulder-to-shoulder" military exercises, and has since stayed in the country,

The US military deployed the Typhon missile system in the northern Philippines last year as part of an annual joint exercise, but it was not removed after the war games ended