President Ferdinand Marcos Jr. answers questions from the media after his first Cabinet meeting in Malacañan Palace, July 5. Photo by KJ Rosales, The Philippine Star
“The most important area will have to be the economy,” Marcos Jr. said in his first Cabinet meeting on July 5. His comments at a press conference days before assuming the presidency provided more insight into how he plans to manage the economy. Social programs will be “very focused” because the government is “not so well funded,” he said.
Marcos’s performance on economic issues will make or break his family’s legacy after he successfully rehabilitated their name, said Ronald Holmes, a professor of political science and development studies at De La Salle University in Manila. “If he fails to address the problems, including inflation and employment, that will definitely hurt his presidency, and in the longer term, lessen whatever is the appreciation of the family’s legacy.
Despite the challenges, a Bloomberg survey showed that the Philippine economy will grow annually by at least 6% through 2024. That’s a pace officials say would pare government debt back to below the 60% of output typically viewed as sustainable and bring the poverty rate down to single digits. “We have to be creative here. We have to engage the private sector,” Marcos’s Economic Planning Secretary Arsenio Balisacan said at a July 4 briefing.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Philippines looking to cut poverty to 9% by end of Marcos’ term“Our target is by the end of President Marcos’ term, poverty incidence will be down to a single digit, 9%,” Diokno said, pointing out that the poverty rate was at 25% during the Duterte administration’s first year in office. Mangyayari lang 'yan kung walang pangungurakot sa pamahalaan. Kaya dapat may EO na si BBM tungkol sa freedom of information at full disclosure ng government transactions upang nakalantad lahat sa taumbayan ang mga ginagawa ng pamahalaan. Ang tanong, gagawin ba niya 'yan? Look into cases of tax evaders too Libre mangarap
Source: gmanews - 🏆 11. / 68 Read more »
President Ferdinand Marcos Jr.’s first executive orders, a summaryHis first executive issuance abolishes Duterte's Presidential Anti-Corruption Commission, and restructures staff support in the Palace.
Source: rapplerdotcom - 🏆 4. / 86 Read more »
[OPINION] War of the words: Thoughts on the Marcos inaugural speech'The speech was rich with indicators as to how Marcos plans to package his administration moving forward.' ThoughtLeaders piece by Jamina Vesta Jugo. Truly, 'vague verbosity'
Source: rapplerdotcom - 🏆 4. / 86 Read more »
Marcos veto of Bulacan ecozone bill constitutional, says AngelesMalacañang stood by the decision of President Ferdinand “Bongbong” Marcos Jr. to veto House Bill 7575, saying the Chief Executive’s move was within the bounds of the Constitution.
Source: manilabulletin - 🏆 25. / 51 Read more »
Marcos agrees with requiring Filipinos to take Covid-19 booster shotPresident Ferdinand “Bongbong” Marcos Jr. has agreed with the proposal to require Filipinos to get the first booster shot as the country attempts to arrest the spread of Covid-19 Omicron subvariants, the state media reported.
Source: manilabulletin - 🏆 25. / 51 Read more »
Marcos meets health officials amid rising Covid-19 cases; mass vaccination eyed for studentsPresident Ferdinand “Bongbong” Marcos Jr. called Department of Health (DOH) officials for a meeting in Malacañang to ensure that vaccinating the population against Covid-19 continues amid plans to fully reopen schools by November this year.
Source: manilabulletin - 🏆 25. / 51 Read more »