Gov. Imee Marcos and Mayor Cristina Romualdez seem to be in tune with the palace when it comes to the real status of the country’s economy. The questionable VP earlier said that the President should prioritize the declining economy first before criticizing her incompetence. Palace spokesperson Harry Roque said that in fact, the Philippines is now the darling economy in Asia. Marcos and Romualdez added that the world’s gasoline crisis is the one to blame for the price hike of commodities.
Youtube video by; Elena Grace Flores
[VIDEO]: The world market’s gasoline crisis is the culprit for the price hike of commodities according to Marcos and Romualdez.
Roque Corrects the Out of Tune VP
Roque notes that the increase in the price of oil in the world market is the reason for the increasing prices of commodities. “All economies in the world will agree that we are a darling economy,” the spokesperson claimed in a press briefing. He added: “Madam vice president, there is no problem with the economy.” In the first quarter of 2018, the Philippines remained one of the best performing economies in the region after it grew 6.8 percent. The expansion pace missed the government’s expectations due to “spoiler” inflation.
The Tax Reform is Up to the Congress
Detractors of the government blame the rising prices on the Tax Reform for Acceleration and Inclusion law. It allegedly lowers the income tax rate but also imposes higher taxes on fuel and “sin” products. The peso also continues to be weak against the dollar but Du30’s economic managers and Roque said this was not a cause for concern. Romualdez said to Marcos that the President is leaving this matter to the Congress since he cannot decide on this without a specific law as per the constitution.
No Truth on the Borrowing Spree
The President’s announcements regarding the investments of China or any countries never pertains to borrowing money from them. So far, we can only verify the Asian Development Bank’s investment on the major MRT infrastructure for the “Build Build Build” project. China so far got only the bid for the supplies of the construction like cement. Japan is also the contracting consortium. The Marcoses knew that borrowing from other countries is not an option because we have enough reserves for such investments. Only the destabilizers would cast a shadow on this to malign the Du30 administration.
The Marcos Wealth Stabilizes the Economy
Robredo also said that changing the constitution is not the solution to high prices and poverty. However, she does not have a good solution also. That made her incompetent. Instead of contributing to the country’s progress, she brings chaos into it for her own interests. The VP is so out of tune with the world’s situation. The country’s economy is far better than Japan as far as stability is concerned. The Marcos wealth for humanity is not a myth after all. We can feel it and the President puts it into the people’s advantage through the aggressive infrastructure project following the late President Ferdinand E. Marcos’ will.