SONA 2023 PROMISE TRACKER: ECONOMY
Of Marcos’ 13 promises on the economy in his 2023 SONA, three remain stalled, six have been fulfilled and four are still in progress.
Tag Archives: economy
Renewed hope for 2024
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?
VERA FILES FACT CHECK: Diokno’s outlook on debt-to-GDP ratio runs counter to that of Marcos
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.
VERA FILES FACT CHECK: Marcos’ report on 6.4% GDP growth rate in SONA needs context
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.”
SONA 2022 PROMISE TRACKER: ECONOMY
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.
VERA FILES FACT CHECK: Data contradict Marcos’ claim that PH economy is ‘fastest growing’ in the world
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.
VERA FILES FACT CHECK: Datos salungat sa pahayag ni Marcos na ekonomiya ng PH ‘pinakamabilis na lumalago’ sa mundo
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.
VERA FILES FACT CHECK: Marcos, DOF falsely claim PH leads GDP growth forecast in Asia
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%.
VERA FILES FACT CHECK: Marcos’ claim on decreasing govt debt misleads
The figures are referring only to gross borrowings or new debt that the government has incurred.
VERA FILES FACT CHECK: Salceda’s remark that Philippines has ‘one of the lowest’ inflation rates in the world lacks context
Compared to other Southeast Asian countries, the Philippines' inflation is the sixth highest recorded in 2022. Economic experts say that even if the Philippine economy posted growth, inflation grew faster since December.
