‘Philippine economy fine, problem is our business partners’

President Ferdinand Marcos Jr. on Sunday said the country's economy is doing good, stressing that the problems of other countries affect the Philippines.

In his speech during the distribution of government assistance to various sectors in Talisay City, Negros Occidental, Marcos said the country's economy is doing good.

He pointed out that inflation and increasing prices of basic commodities are brought about by the problems of other countries which affect us.

"The Philippine economy is fine. The problem is, all of our associates or let's say business partners are having problems that are being brought about into the country," Marcos said.

"That is why we need to make adjustments. We need to do something and it is one of our ways," he added, referring to the distribution of government's financial assistance.

Marcos led the distribution of government assistance to various sectors in Talisay City with the Department of Social Welfare and Development where he handed over assistance to individuals amounting from P5,000 to P10,000 to 100 recipients.

Likewise, the Chief Executive, who concurrently chairs the Department of Agriculture, turned over mock checks to six farmer organizations amounting to P88 million under the agency's Philippine Rural Development Project.

He also distributed palay seeds to 100 farmers, one unit of corn mill, and three units of an incubator.

Marcos' remarks came after a survey by the Social Weather Stations conducted from the end of September to early October revealed that nearly half of Filipino families consider themselves poor.

Based on the nationwide survey, almost half, or 49 percent of Filipino families have rated themselves as poor, slightly higher than the 48 percent result conducted last June.

The SWS said the estimated numbers of self-rated poor families are 12.6 million in October 2022 and 12.2 million in June 2022.

On Saturday, Socioeconomic Planning Secretary Arsenio Balisacan defended the government, explaining at the time the poll was conducted, there was a rise in inflation.

Balisacan added that poverty incidence could have been higher, had the government failed to further reopen the economy and distribute targeted subsidies to low-income households, public utility drivers, farmers and fisherfolks.

He assured that the government is fast-tracking the distribution of cash aid to the poor and vulnerable sectors, and increasing the food supply in the country to give Filipinos a comfortable life.

"Moving forward, we need to speed up providing financial assistance to the poor (and) most vulnerable groups, implementing our food production enhancement programs, and executing timely food importation," he said.

Marcos urges Pinoys to travel

Marcos also called on Filipinos to travel to local tourist spots to help spur economic development in the different areas across the country.

In his recently uploaded vlog, the Chief Executive underscored the importance of boosting the local tourism industry in a bid to rebuild the pandemic-battered economy.

"From the very beginning, we already pointed out that tourism is one of the key players we needed to revive our economy, especially in the countryside," he said.

"We know how wide the impact to jobs and businesses is if our campaign in tourism becomes successful," he added.

According to the president, the biggest bulk of the country's tourists are domestic travelers.

"Even before the pandemic came, the bulk of the revenues from the tourism industry came from our fellow Filipinos," he said.

"That is why I would never stop encouraging you to visit our beautiful tourist spots," he added.

Marcos said the public may start visiting more local tourist spots this 31 October.

"One of the reasons we declared 31 October as a special non-holiday is for you to have more time with your family and plan for a vacation," he explained.

Last week, Marcos Jr. issued Proclamation No. 79, declaring 31 October, the eve of All Saints' Day, as a special non-working holiday in the country.

Meanwhile, Marcos vowed that access to provinces with high tourism potential will become easier under his administration.

"One of the important roles of the government is to make the provinces that have high potential for tourism more accessible to the people," he said.

He cited the expansion of Ormoc Airport as an example of the government's effort to help boost the local tourism industry.

"If it's accessible, more people will be encouraged to visit. More money will also pour into the province," he said.