Senator Rodante Marcoleta on Sunday warned that corruption is inflicting serious damage on the Philippine economy, citing declining investor confidence, a weak stock market, and sluggish performance across key sectors.

Speaking before a large crowd at the Quirino Grandstand in Manila, Marcoleta claimed that 40 percent of investments intended to help boost the country’s economic performance have failed due to corruption.

He also pointed to the poor performance of the Philippine stock market and currency.

“Ang ating stock market is the worst performing stock market in the region. ang ating pera, ang ating piso na ngayon ay halos P60 per $1. It is the worst performing currency in the region,” he said.

Marcoleta stressed that corruption has caused a domino effect across agriculture, tourism, and trade.

“Ang nangyari dyan at naging resulta kaya naging mababa pati productivity ng ating agriculture, pati ang ating turismo ay naging mataglay pati ang kalakalan ay naging matamlay. Ito lamang ang nagiging bunga ng kurapsyon sapagkat ayaw nilang ilantad at gusto nila ay makaiwas sila sa pananagutan,” he added.

Budget deficit concerns

Marcoleta also raised alarm over the proposed P6.7 trillion national budget for 2026, noting that it exceeds the projected P5 trillion revenue of the country.

“Sa makatuwid mas malaki po ang ating gagastusin kesa ating kikitain. Magkakaroon po tayo ng P1.7 trillion na uutangin na naman natin sa susunod na taon,” he said.

He further broke down the figures, saying the Philippines would have to borrow P142 billion per month, P4.7 billion per day, and P197 million per hour to sustain government spending under the proposal.