As his administration enters its second year and faces prospects of softening demand, Marcos said delivering on his campaign promises to transform the economy is a work in progress.
MANILA : Philippine President Ferdinand Marcos Jr marks his first year in office with resilient growth and improving business sentiment as he rebalanced the country’s foreign policy and tapped credible economic managers.
"The most successful economies are those that are agile and resilient and I think we have put in place the basic elements for us to do that.” "We see that pent-up demand is waning, but this means that we are going to moderation that’s also good for inflation,” said Undersecretary Rosemarie Edillon of the economic planning agency.Marcos appointed himself as secretary of agriculture, aiming for self-sufficiency in food production like many of his predecessors. His single six-year term was greeted by shortages of food items like onions and sugar, helping stoke inflation to the fastest in 14 years at the start of 2023.
"There is urgency for fiscal reform measures to further boost revenue through new or higher taxes, intensified collections as well as more disciplined government spending,” said Rizal Commercial Banking Corp. chief economist Michael Ricafort.
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 court disbars Marcos adviser over ‘misogynistic’ outburst | The Malaysian InsightLorenzo Gadon ‘repeatedly cursed and uttered profane remarks’ against female journalist.
Read more »
Metro Manila still among the least liveable cities in the worldMANILA (Philippine Daily Inquirer/Asia News Network): Metro Manila slipped by four places to 136th among 173 cities in this year’s ranking of liveable cities all over the world by the Economist Intelligence Unit (EIU). The annual EIU report measures liveability through 30 qualitative and quantitative factors across five aspects: stability; health care; culture and environment; education; and infrastructure.
Read more »
Five S'poreans among nearly 3,000 human trafficking victims rescued in PhilippinesSINGAPORE (The Straits Times/Asia News Network): Five Singaporeans were among nearly 3,000 suspected victims of human trafficking rescued during by the Philippine police during a raid at a compound in a city south of Manila.
Read more »
Philippines to end search for missing crew of sunken boatMANILA (AFP): The Philippine coast guard said Thursday (June 29) it would end a week-long search for six missing crew members of a fishing boat that sank in bad weather in the country's eastern waters.
Read more »
Wisma Putra verifying status of 134 job scam victims rescued in the PhilippinesKUALA LUMPUR, June 28 — The Foreign Ministry, through the Malaysian Embassy in Manila, is actively identifying and verifying the status of 134 individuals believed to be...
Read more »