National Economic and Development Authority, or NEDA, Secretary Arsenio Balisacan warned on Wednesday that political instability in any country will inevitably harm its economy.

The NEDA chief made the warning in a press briefing after he was asked how the war of words between President Ferdinand Marcos Jr. and former President Rodrigo Duterte could affect the country’s economy.

“Any country that has political instability will hurt its economy,” Balisacan said.

“Whether you’re in the Philippines, Thailand, or Vietnam, maintaining stability is crucial. It’s the foundation for major investment decisions, and without it, economies suffer,” Balisacan added.

Balisacan emphasized the importance of prioritizing economic stability, stating that it goes beyond his purview as NEDA chief. “Let’s focus on the economy,” he urged.

Last Sunday, Davao City Mayor Sebastian “Baste” Duterte, the son of former president Rodrigo Duterte, urged Marcos to step down, citing alleged shortcomings in addressing several national issues that pose a threat to the lives of innocent Filipinos.

Focus on stability

Additionally, the former President also called the current President a “drug addict” and said that he would order the arrest of those responsible for the People’s Initiative to amend the Constitution.

In the event that the People’s Initiative proceeds, Duterte warned legislators that he would instruct military authorities to “disrupt” Congress and advocate for the autonomy of other regions in opposition to the movement.

While Marcos remained mum on the Davao City mayor’s call, the President dismissed the criticisms from his predecessor about alleged drug addiction, attributing them to fentanyl, a medication the former leader had used.