President Ferdinand Marcos Sr. in 1965 assumed the presidency of the Republic of the Philippines, heralding an era of significant transformation. His assumption to office was praised globally as a democratic success story. The nation enjoyed a surging middle class and had a well-educated population. Marcos introduced sweeping changes. He initiated ambitious infrastructure projects funded by foreign borrowings.

This period marked the strong influence of United States President Ronald Reagan, marking a profound shift in the Philippine political and economic landscape. Marcos Sr. made the economy more open and removed restrictions on big international corporations.

Similarly, President Bongbong Marcos’s administration with full force is promoting the Philippines as an attractive investment destination for big US corporations. PBBM was successful in building a highly educated and readily employable workforce.

He articulated his priority programs aimed at propelling the national economy and the country towards sustainable development to improve the quality of life of all Filipinos.

However, two of PBBM’s major priority programs — healthcare, affecting 112 million Filipinos, and infrastructure, involving the P8.8-trillion in foreign investments hard-earned from his foreign travels — are in jeopardy.

His efforts to achieve his noble ends are being disrupted by a single controversial act committed by his finance secretary who issued, without presidential approval, Department of Finance Circular 003-2024, based on the “insertion of a general provision in the 2024 General Appropriations Act, specifically on unprogrammed appropriations.”

Under the circular, the finance secretary ordered PhilHealth to, among other things, remit its P89.9-billion excess fund to the national treasury to be diverted to unprogrammed appropriations supposedly to fund initiatives in support of economic growth.

To be sure that his finance secretary was correct, PBBM consulted seven former finance secretaries, asking if PhilHealth savings transferred to the national treasury to be used for unprogrammed appropriations was correct. The ex-finance chiefs agreed with the incumbent finance chief.

The PhilHealth fund transfer, however, turned out to be most controversial. Its legality and constitutionality are under question before the Supreme Court.

The Supreme Court conducted oral arguments on the petitions affecting the healthcare of 112 million Filipinos, and apparently the Honorable Justices of the Supreme Court were not pleased with the answers they were getting.

On the other hand, the Filipino people are happy with what the High Court is doing. Irregularities in the expenditure of public funds were stopped. They are hoping that the huge amount in foreign investments that have been actualized could be saved from corruption while the Honorable Justices are showing their concern and are asking the right questions to economic managers.

The people want the completion of President Bongbong Marcos’s 124 high impact infrastructure flagship projects aimed at enhancing physical connectivity across the Philippines with an investment totaling P8.8 trillion

The Philippines has long grappled with inadequate infrastructure, which hampers economic growth and connectivity. By prioritizing the expansion and upgrading of roads, bridges, ports, airports, the administration aims to facilitate better transportation, stimulate commerce and attract investments.

This development is expedited to create jobs, reduce travel time,and improve the overall quality of life, particularly in rural and underdeveloped areas.

Email: artbesana@gmail.com