PBBM lays out ‘comprehensive’ economic plan in inaugural speech
President Ferdinand “Bongbong” Marcos Jr. laid out his comprehensive economic plan to the public during his inaugural address.
During his first public speech as president, PBBM said that agricultural and food sufficiency will be his top priority as the richest free trade countries always gave priority to these sectors. In line with this, he appointed himself as the new leader of the Department of Agriculture (DOA), at least for the meantime.
He also promised to continue the infrastructure developments made under former President Rodrigo Duterte.
Marcos added that the government will be presenting a “comprehensive” infrastructure plan – with the next six years “just about enough time” for it.
PBBM also tackled environmental issues as he acknowledged the country’s role as one of the world’s biggest plastic polluters. He also plans to strengthen partnerships and alliances with other nations as part of the Philippines’ recovery strategy from the COVID-19 pandemic.
However, several analysts said that the president’s economic plan lacks specific measures on how to provide solutions to all of the problems that he highlighted.
In an interview with CNN Philippines, political sociologist Frederick Rey said that despite mentioning several problems that the country is facing, Marcos did not provide a detailed approach in his inaugural speech.
Terry Ridon, convenor of infrastracture-oriented think tank Infrawatch PH added that the new admin could face “serious difficulties in government spending as it has a limited fiscal space to work with.
