Marcos keeps economic core

Two key members of President Marcos Jr.’s economic team, Arsenio Balisacan and Trade Secretary Cristina Roque, hailed their retention amid a sweeping Cabinet shakeup.

Balisacan (now heading the newly formed Department of Economy, Planning, and Development) vowed continued pursuit of an inclusive, resilient economy.

Palace officials said Marcos called him “a genius.”

Roque, likewise, pledged to deliver on the administration’s “Bagong Pilipinas” agenda, promising no Filipino would be left behind. Their survival signals the President’s desire for stability in economic policy even as political realignments continue to reshape the rest of his Cabinet.

Secretary Recto, who was described by Bersamin as ‘action man’, in response, said: “This is not just a nod of confidence, but a clear instruction to raise our game. We’ll recalibrate our strategies at the DOF to make sure every Filipino family feels the gains of economic progress.”

However, secretaries Amenah Pangandaman (Budget) and Frederick Go (Investment) did not release statements.

The entire economic team, along with 47 cabinet members, submitted courtesy resignations when asked by the President last Thursday.

Various business organizations in the country were quick to back up the economic team, with the Makati Business Club chairman Edgar Chua saying: “We think it’s a very good team. If they are replaced, it will be disruptive.”

The President's decision to retain the team signals continuity. But not without controversy.

While praised internally, the team faces growing public frustration over inflation and inequality.

Political analyst Ramon Coronacion noted many Filipinos blame the country's economic managers for policies perceived as exacerbating inflation and the country's economic woes.

Recto defended the reallocation of PhilHealth funds as "economically sound", while Pangandaman pointed to recent GDP growth.

Still, skepticism clouds the administration's economic credibility.