The economic team of President Bongbong Marcos remains amid the major revamp.
After calling for a major revamp, President Bongbong Marcos decided to retain his five economic managers to prevent disruptions.
The call for cabinet secretaries to resign by President Bongbong Marcos was controversial and made after the results of the national and local elections on May 12. This move will accordingly help him review the performance of each department and determine who will stay and who will leave based on his priorities.
The election result accordingly showed that the people are “tired of politics and they are disappointed with the government.”
He already accepted the courtesy resignations of Foreign Secretary Enrique Manalo, Environment Secretary Toni Yulo-Loyzaga, and housing czar Jerry Acuzar.
Amid the major changes in his Cabinet, he decided to retain the five members of his economic team. His order to his team is to promote the economy of the country and promote the country as an investment destination.
The retained ones making up his economic team are:
- Finance Secretary Ralph Recto
- Trade Secretary Cristina Aldeguer-Roque
- Department of Planning, Economy, and Development (DEPDev) Secretary Arsenio Balisacan
- Budget Secretary Amenah Pangandaman
- Special Assistant to the President for Investment and Economic Affairs Frederick Go
The socioeconomic planning chief thanked the president for his trust and confidence. In a statement, he said, “I thank the President for his continued trust and confidence and assure him of the Department of Economy, Planning, and Development’s continued efforts, together with members of the Economic Team, to steer the economy to a prosperous, inclusive, and resilient future where every Filipino benefits from our nation’s progress.”
The economic team is also looking into decreasing the poverty rate to 9% by 2028, reducing he country’s debt-to-gross domestic product (GDP) ratio to below 60% by 2028, and achieving an economic growth rate of 6% to 8% between 2025 and 2028.
What can you say about this? Let us know in the comments!