More realistic messaging on the economy needed

TODAY'S EDITORIAL: More realistic messaging on the economy needed

WHILE en route to the World Economic Forum annual summit in Davos, Switzerland, President Ferdinand 'Bongbong' Marcos Jr. took time out to once again pitch the proposed Maharlika Wealth Fund to the media accompanying him on the trip. The MWF, the President said, is intended to attract big investments in agriculture, energy, digitalization and climate change.

9 percent, citing persistent inflation, weakening demand, and slower foreign direct investment. In a similar briefing on Tuesday, the Asean+3 Macroeconomic Research Office offered a slightly more upbeat forecast of 6.2 percent, but that was nevertheless a downward revision; likewise, AMRO revised its 2023 inflation forecast for the Philippines upward, from 4.0 to 4.3 percent, and cautioned that there is still a risk of higher-than-target inflation becoming entrenched in the economy.

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