As President Ferdinand “Bongbong” Marcos Jr. delivers his State of the Nation Address (SoNA) today, 28 July, the nation awaits answers, direction, and perhaps a reset. With the midpoint of his term just around the corner, this SoNA may well be his most consequential yet.

At the heart of his speech will likely be the economy. The Philippines is posting one of the fastest growth rates in Southeast Asia, a point Marcos will proudly emphasize. Yet growth is only part of the story. Inflation remains a top concern for Filipinos, and while recent figures show it easing within the 2–4 percent target of the Bangko Sentral, many households still feel the crunch.

Expect him to defend the government’s expanded subsidy programs — like 4Ps, AKAP and the Walang Gutom food stamps — as necessary safety nets, even if critics argue they’re not enough to address structural poverty.

Marcos is also expected to highlight the administration’s record P6.33 trillion national budget for 2025, positioning it as a springboard for economic expansion, infrastructure and poverty reduction. He will likely use this to justify his recent call for a “government reset,” where he asked all Cabinet secretaries to resign to allow a revamp based on merit and performance. It’s a bold move following poor midterm poll results and may be spun as a show of accountability and political maturity.

Infrastructure will remain a cornerstone of the address. Through the “Build Better More” program, Marcos may showcase projects from new airports to digital connectivity. However, with the controversial suspension of the P8.7-billion EDSA rehabilitation project, expect him to strike a balance between pushing forward and reviewing flawed initiatives.

Foreign policy will also play a key role. With his just-concluded visit to Washington, D.C., to meet US President Donald Trump, Marcos is likely to outline steps to resolve trade tariffs and deepen economic and defense partnerships. His tone will likely reaffirm the country’s strategic alliances in the face of China’s growing assertiveness in the West Philippine Sea.

Agriculture and food security may receive a renewed push, following criticisms that the sector remains stagnant despite increased budgets. Marcos might unveil new strategies for boosting rural productivity and reducing import dependency. He may also tout expansions in child nutrition, maternal health grants, and even mental health reforms as evidence of his administration’s holistic approach to welfare.

On the political front, the rift with former allies like the Dutertes cannot be ignored. With Vice President Sara Duterte likely to skip the SoNA once again, Marcos may subtly appeal for political unity while underscoring his commitment to institutional integrity. He may also take the opportunity to call for support for priority legislation, including constitutional reforms and further liberalization of foreign investment laws.

In all, expect a speech that balances celebration with concession — pride in numbers, tempered by an awareness of the country’s enduring struggles. For Marcos Jr., this SoNA is a chance to reset, reframe and reclaim his narrative heading into a pivotal election year.

It’s not just a report card — it’s a roadmap for the next three years. Whether the public believes in that journey, however, is another story.