FERDINAND “BONGBONG” R. MARCOS, JR. became the 17th president of the Philippines on Wednesday when Congress declared him the winner of the May 9 election, succeeding Rodrigo R. Duterte whose six-year term ends next month.
president of the Philippines on Wednesday when Congress declared him the winner of the May 9 election, succeeding Rodrigo R. Duterte whose six-year term ends next month.
Mr. Marcos, who secured a remarkable comeback for his family after they fled a mass uprising decades ago, had refused to participate in major presidential debates. He offered a message of unity during the campaign, amid opposition from various groups, including Martial Law victims. “With him vowing to continue many of Duterte’s programs, I expect basically the same projects, particularly the ‘Build, Build, Build’ program,” said Leonardo A. Lanzona, who teaches economics at the Ateneo de Manila University.
Ms. Gianan said Mr. Marcos might also continue Mr. Duterte’s tax reforms that include the Corporate Recovery and Tax Incentives for Enterprises Act which lowered corporate income tax. “Marcos Jr. did not really lay down a platform of governance. To what criteria can we make him accountable if there is no benchmark to begin with?” Ms. Gianan said.The Philippine economy grew by 8.3% in the first quarter, which may give Mr. Marcos some breathing room. However, analysts said the growth outlook may be uncertain as rising inflation will likely hurt consumer spending.
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