Leganes, Iloilo has long awaited the completion of the Panay-Guimaras-Negros Islands Bridge. But three years from the initial plan for construction, promises of economic progress remain hanging due to a shift in funding sources.
Of Marcos’ 13 promises on the economy in his 2023 SONA, three remain stalled, six have been fulfilled and four are still in progress.
Can the Marcos administration, if at all, bring down the prices of consumer goods without heavy reliance on importation before its term ends in 2028?
The day before the briefing, Marcos had raised his concern over the country’s debt-to-GDP ratio before members of the United States-Association of Southeast Asian Nations Business Council.
Philippine Statistics Authority national statistician Claire Dennis Mapa reported on May 11 that the 6.4% GDP growth in the first quarter of 2023 was “the lowest growth registered after seven quarters when the country started to recover from the pandemic in the second quarter of 2021.”
One year into office, President Ferdinand Marcos Jr. is yet to deliver “substantial” progress on his promises to improve the Philippine economic situation. But the administration’s economic managers stay optimistic that the country “remains firmly on track” toward post-pandemic recovery.
This is at least the second time, by VERA Files Fact Check’s count, that Marcos made an inaccurate claim about the Philippines’ economic standing.
Ipinakikita ng pinakabagong mga statistic mula sa Asian Development Bank (ADB) na sa rehiyon ng Asia-Pacific pa lamang, ang Pilipinas ay nasa ika-siyam na ranggo sa gross domestic product (GDP) growth rate.
The Philippines does not have the highest projected GDP growth among Asian countries. It ranks fourth in the IMF’s 30 emerging and developing economies in the region, with a projected GDP growth of 6%. Palau holds the top spot with 8.7%, followed by Maldives with 7.2%.
The figures are referring only to gross borrowings or new debt that the government has incurred.
