MANILA, Nov. 20 -- Sound macroeconomic fundamentals continue to back the resiliency of the Philippine economy amid the challenging environment both domestic and overseas, Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan said Thursday.

Balisacan, in a statement, said domestic growth, as measured by gross domestic product (GDP), remains on expansion mode amidst the slowdown in the third quarter to 4 percent, inflation remains low, labor market remains healthy, fiscal deficit and public debt remain manageable, the peso and external position remain stable, and the banking system is still robust.

"Hard-won reforms passed, implemented, and sustained over the years have consistently strengthened our ability...