July 16th, 2024
While challenges remain, President Marcos has strong wins to tout. Inflation is down to 3.7 percent, within the target range. Unemployment is at 4.1 percent, strong considering our high interest rates. Growth is at 5.7 percent, solid considering China’s slowdown and the generally hostile global conditions.
PBBM has also secured an agreement with India to supply rice, and will be able to secure even more supply as India eases export restrictions.
In other words, the President can resolutely say that things are getting and are about to get better.
Now, the global cost of living crisis has caused hunger to shoot up around the world. That is a serious concern that I expect him to address with vigor and compassion.
I also expect him to announce new big ticket plans for Maharlika, for PPPs, and for investments in general.
In Bicol, we are hopeful that he will boost efforts to fast track the SLEX extension to BIcol, to resume financing talks on the PNR South Long Haul to Matnog — perhaps with a new partner country.
Parts of the country that are hard-hit by El Niño are also hopeful that President Marcos will announce measures to provide compensatory relief for the three or so months that farmers have suffered.