HEADLINE-BBM 2023 SONA | MANILA- ‘The new Philippines is here’ –

Marcos: The state of the nation is sound and improving

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MANILA, Philippines — A “new Philippines is here” – buffeted by challenges, but “sound and improving,” President Marcos said yesterday in his second State of the Nation Address (SONA), where he made familiar calls for unity and promises of inclusive growth.

“Dumating na po ang bagong Pilipinas (The new Philippines has arrived)” as workers and ordinary Filipinos “have unanimously risen to the challenge” and are ready to help because of their love for the country, Marcos said.

“With this in my heart, I know that the state of the nation is sound and is improving,” the Chief Executive said.

“Bagong Pilipinas” is the administration’s new governance and leadership branding that emphasizes unity.

According to Memorandum Circular No. 24 recently issued by Malacañang, Bagong Pilipinas is characterized by “a principled, accountable and dependable government reinforced by unified institutions of society.”

 

Acknowledging that the Philippines is just starting to recover from the pandemic, Marcos said the government and other sectors should work together to achieve a comfortable and stable life for all Filipinos.

“Let us continue to be relentless in our aspiration of peace and progress. This has not been the work of a single person, neither by a single branch of government nor even the whole government acting alone. This is the collective synergy achieved by all Filipinos working together,” the President said in his address, which lasted for one hour and 10 minutes.

“It took a whole-of-nation effort to achieve this immediate recovery from our pandemic slump. Unity was what made us rise once more,” he said.

“We’ve only just begun. The recovery of the nation will continue. All I ask of you is trust and cooperation,” he said in Filipino.

Despite last year’s uncertainties and problems, Marcos said the “enormous pool of highly competent and dedicated workers” in the government as well as the “world-class quality workforce” gave him reason to be optimistic about the country’s prospects.

In his SONA, Marcos mentioned figures highlighting what he called the country’s sound economic fundamentals. He said that while the global prospects were bleak, the Philippine economy posted a 7.6 percent growth last year, the country’s highest growth rate in 46 years.

For the first quarter of the year, the economy grew by 6.4 percent, well within the target of six to seven percent for 2023, he added.

“We are still considered to be among the fastest-growing economies in the Asian region and the world. It is a testament to our strong macroeconomic fundamentals,” the President said.

Marcos described the country’s financial system as “strong and stable,” citing the “strong capital and liquidity positions” of banks.

According to Marcos, inflation “is moving in the right direction” as it eased to 5.4 percent in June from 8.7 percent in January. Citing information from the Bangko Sentral ng Pilipinas, Marcos said inflation is expected to ease further by the end the year to reach 2.9 percent by 2024.

“What this means is that in spite of all the difficulties, we are transforming the economy. We are stabilizing the prices of all critical commodities,” he said.

“On matters of the economy, there are many things over which we have no control. But over those where we do have control, we are doing everything we can.”

Marcos also reported that revenue generation has improved, with the Bureau of Internal Revenue collecting P1.05 trillion from January to May, an increase of almost 10 percent over the previous year. The Customs bureau also increased its collection by 7.4 percent for the first seven months, amounting to P476 billion, he added.

Marcos, criticized by some quarters for traveling too much, claimed that his foreign trips, which he called “economic missions,” yielded an estimated total investment value of $71 billion or P3.9 trillion and may generate 175,000 jobs.

Investment projects approved by the Board of Investments reached P1.2 trillion during the first year of the administration, while other strategic investments approved for processing through the newly established “green lanes” amounted to P230 billion, the President added.

Marcos gave assurance that the government is working to ensure that economic growth would benefit the poor. He said the government has allocated huge sums for education, health and job generation programs.

The President also enumerated government initiatives designed to assist the needy, including employment, livelihood and training programs, social pension for indigent senior citizens and cash-for-work for persons with disabilities.

“As we strive for development, no Filipino will be left behind. For us, everyone is important, regardless of age, gender, ethnicity, religion or physical condition. Everyone will receive care and assistance,” Marcos said in Filipino.

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Priority bills in 2ND State of the Nation Address

•   Excise tax on single use plastics

•   VAT on digital services

•   Rationalization of mining fiscal regime

•   Motor vehicle user’s charge/Road user’s tax

•   Military and uniformed personnel pension reform

•   Amendment of the Fisheries Code

•   Amendment of the Anti-Agricultural Smuggling Act

•   Amendment of the Cooperative Code

•   New government procurement law

•   New Government Auditing Code

•   Anti-financial accounts scamming

•   Tatak Pinoy law

•   Blue economy law

•   Ease of paying taxes

•   LGU income classification

•   Philippine Immigration Act

•   Law creating Department of Water Resource Management