AN economist-lawmaker on Sunday seconded President Ferdinand Marcos Jr.’s statement in the World Economic Forum that the Philippine growth outlook remains bright despite global recession fears, with the House tax panel chairman asserting that, “absolutely there will be no recession for the Philippines in 2023.”
“It is good we were able to go here since it allowed us to be included in the so-called VIP club…. This includes Vietnam, Indonesia, and the Philippines. These are what they considered the most promising economies in Asia,” Marcos said in Filipino during an interview. Marcos said he is confident the country’s “successful” participation at the WEF will translate into concrete gains.
“We have removed restrictions on so many key sectors – public services, the retail trade sector, the energy sector – that the country will offset global recessionary forces,” he said in a statement. “Semiconductor demand will remain strong and above supply regardless of the global growth average. We saw that during the pandemic, when everybody thought the sky would fall,” he said.
Salceda said that “therefore, our strategy now must be, ‘how do we sell the Philippines as a safe haven for investments when the world feels fearful of putting money everywhere else’?”
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