Salceda: P12-trillion debt awaits new admin
Albay Rep. Joey Salceda
LIGAO CITY––Reelectionist Albay Second District Rep. Joey Salceda said in his Facebook post on Wednesday that the next president would face a big problem, particularly with a P12-trillion international debt.
Salceda said the global economy is slowing due to COVID-19 debt scars, while commodity prices are rising due to supply chain and production issues caused by the war between Russia and Ukraine.
“We need all hands on the paddle to get the canoe out of the storm. With a P12-trillion debt overhang, the first best strategic way out of the national problem is to focus the limited budget on agriculture (containing inflation) and social services (safety nets) and get growth (GDP) from foreign investments. She (presidential bet Vice President Leni Robredo) would have been best suited since foreign investors trust her, but BBM’s (Ferdinand “Bongbong” Marcos Jr.) 56 percent is the highest mandate in 53 years and could also be mobilized for smart policies to offset foreign investors’ concerns about him and his father’s rule,” he said.
Salceda said Robredo remained calm and humble amid the wide margin that Marcos Jr. had over her in the presidential race.
Salceda said he and the vice president had a short phone conversation, where Robredo thanked him for his contributions to her campaign in Albay and the country.
“We talked about the national results. I explained that we were up against a restoration effort that was ongoing since 1992. And a low intensity yet pervasive social marketing since 2010. I said I can’t see any form of an anomaly in the election process. We belatedly saw the power of the crowds in April in Malolos [Bulacan] and General Trias [Cavite]. Thus, the 16 million margin and she understood my analysis,” Salceda said.
