Marcos needs to prioritize PH economy — survey

Marcos needs to prioritize PH economy — survey

MANILA, Philippines —Most Filipinos believe that President Ferdinand Marcos Jr. should focus on the Philippine economy, with inflation as the most pressing issue, according to the latest PUBLiCUS Asia Inc. survey released on Wednesday.

In its non-commissioned PAHAYAG Second Quarter 20224 survey, PUBLiCUS Asia said that key macro and micro issues have emerged as top priorities for Filipino citizens.

Despite varying approval ratings, PUBLiCUS Asia said that addressing inflation (18 percent) remains paramount for the Marcos administration, alongside efforts to strengthen the Philippine economy (15 percent) and combat corruption in government agencies (14 percent).

"The survey highlights that addressing inflation is crucial due to its direct impact on Filipino households, with 28 percent reporting difficulty in affording basic necessities," PUBLiCUS Asia said.

"Livelihood concerns persist as a significant issue for 31 percent of respondents, reflecting ongoing economic challenges at the grassroots level," it added.

Inflation hit a six-month high in May, driven by faster upticks in utility and transport costs, the Philippine Statistics Authority earlier said.

National Statistician Dennis Mapa said headline inflation or the rate of increase in average prices of consumer goods and services typically purchased by Filipinos quickened to 3.9 percent in May from 3.8 percent in April.

The May inflation print is the "fastest since the November 2023 reading of 4.1 percent," Mapa said.

On Tuesday, Marcos said his administration would be better equipped to cushion the impact of rising prices, as well as to produce jobs, strengthen health care and boost infrastructure with its proposed P6.352-trillion national budget for next year.

"With our approved 2025 budget, we're investing in what matters most – creating jobs, strengthening health care and expanding infrastructure. Our goal is to tackle rising prices and reduce poverty, ensuring every Filipino benefits from our growing economy," Marcos said in a post on Instagram.

The President approved the proposed national budget for next year during a Cabinet meeting in Malacañang on Tuesday.

The proposed budget for 2025 is 10.1l percent higher than this year's outlay of P5.768 trillion.

Among the sectors and agencies with the biggest allocations are education, which covers the Department of Education, state universities and colleges and Technical Education and Skills Development Authority; Department of Public Works and Highways; health, which covers the Department of Health and the Philippine Health Insurance Corp.; Department of the Interior and Local Government and the Department of National Defense.

Meanwhile, PUBLiCUS Asia said that despite the tensions happening in the West Philippine Sea, preferences of the Filipinos greatly affected their sentiments.

"The majority of Filipinos (53 percent) advocate for neutrality amidst global powers, particularly the US and China," the polling firm said.

However, PUBLiCUS Asia said that 37 percent express pro-US, contrasting sharply with the 3 percent with China.

Beijing claims nearly the entire South China Sea, dismissing claims from other countries, including the Philippines, and an international court ruling that found its assertions to have no legal basis.

  • https://www.msn.com/en-ph/news/national/marcos-needs-to-prioritize-ph-economy-survey/ar-BB1pJy62?ocid=00000000

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