Marcos announced central bank chief Benjamin Diokno would become his finance minister when he takes office on June 30, making way for Felipe Medalla, a current monetary board member, to take over as Bangko Sentral ng Pilipinas governor. The two will be tasked with tackling inflation and joblessness.
"It's still down to jobs, to the increasing prices of commodities, some relief for the business community." Gross domestic product grew by 8.3% in the first quarter from a year earlier, the fastest pace in three quarters, but a rise in interest rates could weigh on domestic consumption, which is major driver of growth.
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