Manila, Nov. 4 -- Malacanang on Tuesday expressed confidence in the country's economic fundamentals despite the reported decline in the local stock market and the Philippine peso's temporary depreciation.

In a press briefing, Palace Press Officer Claire Castro said the value of the peso has started to stabilize.

Castro said the administration remains optimistic about the country's swift recovery, citing continued support from key economic drivers such as overseas Filipino workers (OFWs), business process outsourcing (BPO) companies, and local tourism.

"Confident pa rin po na ito ay malalagpasan ng ating gobyerno (We are still confident that our government will overcome this)," Castro said, when asked if the Palace is confident to resto...