Metro Manila (CNN Philippines, July 24) — Senate President Juan Miguel Zubiri on Monday said he thinks the economy and politics in the country are in favorable situations a year after the administration of President Ferdinand Marcos Jr.’s started in 2022.
“The state of the nation, if you ask me, is sound at the moment,” Zubiri told CNN Philippines’ The Source.
He cited the country’s current gross domestic product (GDP). The Philippine Statistics Authority said this reached 6.4% in the first three months of 2023, which is within the Marcos administration’s target of 6% to 7% this year.
“We’re looking at possibly higher by the end of this year, almost 7.5% GDP growth rate,” Zubiri added.
The Senate president also noted how the Philippines is “the darling of the World Bank and International Monetary Fund.”
“When I say we are the darling, they are only looking at the Philippines and Indonesia that will be coming up with positive growth rate for the end of the year and possibly next year,” Zubiri said.
Both international organizations have projected that the Philippines will grow by around 6% this year.
He also noted that in the past year, it has been \”politically quiet,\” meaning the Philippines is a \”stable democracy in the region.\” This also shows that there is \”a stable transfer of power every six years\” which makes the country a great investment destination for foreign businessmen, Zubiri noted.
Marcos is set to deliver his second State of the Nation Address on Monday to report to the public his administration’s achievements in his first year in office, as well as his plans for the coming years.
Zubiri has given Marcos an 8 out of 10 for the chief executive’s performance in the past year.
The lawmaker recognized the president’s hard work despite the “external factors” that hit the Philippines.
“He’s’ a hard-working president. He’s up early in the morning, he does meetings all through the night. He goes around, does his inspection of projects and programs and he listens and on many occasions, he asks us our advice on particular issues,” Zubiri said.
The senator also said the Congress is ready to help the president in addressing the issues that continue to affect Filipinos, like the rising prices of different commodities, and the call to increase wages.
