Marcos confident Philippines won’t experience recession

08/12/2022 6:15:00 AM

President Ferdinand Marcos Jr. expressed confidence that the Philippines would not experience recession following the reported decrease on the number of unemployed Filipinos in the country. READ: Video courtesy: OPS

President Ferdinand Marcos Jr. expressed confidence that the Philippines would not experience recession following the reported decrease on the number of unemployed Filipinos in the country. READ: Video courtesy: OPS

“Kaya’t kahit papaano ay malakas ang loob natin na hindi tayo magkakaroon ng recession dito sa Pilipinas dahil masyadong mababa ang unemployment rate at kung maaalala ninyo sa pagsimula namin dito sa administrasyong ito ay pinag-usapan na namin ay trabaho talaga ang aming uunahin. Kaya’t ‘yan ang nakikita ngayon natin na nangyayari. Ipagpatuloy lang natin ‘yan,” President Ferdinand “Bongbong” Marcos Jr. said.

By ANNA FELICIA BAJO, GMA Integrated News Published December 8, 2022 10:56am President Ferdinand "Bongbong" Marcos Jr.By ANNA FELICIA BAJO, GMA Integrated News Published December 6, 2022 7:19pm President Ferdinand "Bongbong" Marcos Jr..MANILA, Philippines – Most political talk as December rolled in had been on one piece of legislation: the proposed sovereign wealth fund, or Maharlika Wealth Fund, some P275 billion that the government would pool from pension funds and banks to invest in big-ticket national projects and other assets.

expressed confidence that the Philippines would not experience recession following the reported decrease on the number of unemployed Filipinos in the country.Marcos underscored that his administration has been prioritizing the generation of jobs for Filipinos since the beginning of his leadership.During the Telco Summit in Pasay City, Marcos said the country's connectivity rate was "still pretty low.“Ang balita na tumaas ang inflation rate na hanggang eight percent last November, mayroon naman kasabay na mas magandang balita na bumaba ang unemployment rate sa four and a half percent mula sa five percent,” Marcos said in a video message.(There's a better news than the high inflation rate in November because the unemployment rate decreases from 5% to 4."We are still below 70 percent and that’s not good enough, especially for an archipelagic country such as ours where connectivity is exceedingly important because we have many isolated communities who need some form of contact, some form of communication with the rest of the country, with the rest of the world," Marcos said.5%.The word “supposed” here is used loosely, of course – the bill is backed by no less than the President’s relatives in the House of Representatives, all of whom hold leadership roles: the President’s first-degree cousin, House Speaker Martin Romualdez; Romualdez’s wife, accounts committee chairperson Representative Yedda Romualdez; and presidential son, Senior Deputy Majority Leader Ferdinand Alexander Marcos.

) “Kaya’t kahit papaano ay malakas ang loob natin na hindi tayo magkakaroon ng recession dito sa Pilipinas dahil masyadong mababa ang unemployment rate at kung maaalala ninyo sa pagsimula namin dito sa administrasyong ito ay pinag-usapan na namin ay trabaho talaga ang aming uunahin.And if we are to compete properly with our neighbors and that time will come and it is coming now very, very quickly upon us, that time will – when that time comes, we will have to compete with our neighbor countries because the region is still going to be -- in my estimation, in my view, this region is still going be the driver of the global economy as soon as things 'normalize,'" he added.Kaya’t ‘yan ang nakikita ngayon natin na nangyayari.Ipagpatuloy lang natin ‘yan,” he added." "Our digital infrastructure and services will definitely change – has already changed the way we experience the world around us.(Because of that, I’m confident that recession will not happen in the Philippines because the unemployment rate is very low and if you remember, this administration has been prioritizing the creation of jobs since the beginning.We will continue that.It has changed -- the pandemic changed everything and the internet changed right along with it," said the President.” Economic managers also said checks and systems in the bill would make sure the fund would not be mismanaged.

) The Philippine Statistics Authority (PSA) has disclosed that the number of unemployed Filipinos slightly decreased to 2.24 million in October.I mean, I don’t need to repeat all of that.This was lower than the 2.50 million unemployed individuals recorded in September.You experienced it all yourselves," he added.The October unemployment rate stood at 4.But what makes the proposed Maharlika fund different is its source: the pensions of Filipinos.

5% from 5% in September and 7."This will simplify everything that we do with – in the business of government as we try to process and we try to serve the public in giving them all the services that are necessary and making it easy for them to avail of those services," Marcos said.4% in October 2021.According to the PSA, this was the lowest since the similar 4.5% print seen in pre-pandemic October 2019.Despite the decline in jobless individuals, the number of employed Filipinos saw a drop to 47.– Rappler.

11 million during the month from 47.58 million in September but higher than the 43.82 million employed in October 2021.Marcos, meanwhile, guaranteed that the government is implementing measures “to cushion the impact of high prices of basic goods on ordinary Filipinos.” “Gumagawa kami ng marami pang ibang paraan para mas maging magaan sa bulsa ng ating mga kababayan itong napakabilis na pagtaas ng presyo ng kung anu-anong bilihin,” Marcos said.

(We are enforcing measures that will ease the burden of Filipinos from the high prices of goods and commodities.) , the fastest since November 2009’s 9.1% and surpassing the 14-year high of 7.7% recorded in October, the PSA said.— RSJ, GMA Integrated News Tags:.

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Marcos underscored that his administration has been prioritizing the generation of jobs for Filipinos since the beginning of his leadership.

Marcos: Philippines should compete with neighbors on connectivity, digitalizationDuring the Telco Summit in Pasay City, President Marcos Jr. said the country's connectivity rate was 'still pretty low.' He stressed that the Philippines should be 'at the very least at the same level of digitalization' as to other nations in Asia.

President Marcos graces the 11th Arangkada Philippines Forum in Pasay City on Tuesday afternoon. | President Marcos graces the 11th Arangkada Philippines Forum in Pasay City on Tuesday afternoon. | By Philippine Star | Facebook618 views, 47 likes, 24 loves, 10 comments, 3 shares, Facebook Watch Videos from Philippine Star: President Marcos graces the 11th Arangkada Philippines Forum in Pasay City on Tuesday afternoon. helenmflores Marcos: The Philippine economy continues to recover from the negative impact of the pandemic. | helenmflores LIVE:

President Marcos hasn’t talked about the Maharlika fund proposal himselfThe most the Palace has spoken about it is through a press release from the Office of the Press Secretary, citing an endorsement from the GSIS president. InsideTrack

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