Time for the son to live up to his extravagant pre-election claims
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| By: Viswa NathanThe first policy statement of any incoming administration is usually never short of promises. The goals outlined by Ferdinand Marcos Jr., the newly-elected president of the Philippines, in his July 25 inaugural address were no different. That address has drawn little interest regionally. It is worth taking another look. Marcos has set down some short-term and long-term targets. In the short term, the president, popularly known as Bongbong or BBM, says he aims to lift the country to upper middle-income status by raising Gross National Income (GNI) per capita to the equivalent of US$4,256 by 2024 or before he reaches mid-term in office. It means a more than 8.5 percent increase in 2022 and 2023. That goal might seem ambitious, but not so. Last year, with a population of 110.8 million, GNI per capita had increased by 6.2 percent after an 11 percent decline in Covid 19-ravaged 2020. And Marcos has in place a team with proven track records in managing economic affairs…
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