Bongbong Marcos vows wise spending at presentation of new bills with his signature

(From Office of the Press Secretary Facebook)

MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. has assured Filipinos that all public funds will be used judiciously and responsibly for national development projects.

He made the commitment after the Bangko Sentral ng Pilipinas (BSP) presented Philippine banknotes bearing his signature and a new coin series with the BSP logo.

“Be assured that it is the policy of this administration, to ensure that every peso and every centavo that the government spends in its programs and projects will be to the benefit of all Filipinos,” Marcos said in his remarks during the presentation of banknotes in Malacañang.

“So I convey my full support to all of our BSP officials and their employees. I also have complete confidence in your capability, competence, and integrity,” he added.

The President also called on the BSP and other concerned agencies to further intensify their efforts against counterfeiting and other illegal activities, ensure price stability, enrich banking reforms, and come up with strategies to guarantee that public interest remains to be the core of the government’s priorities.

He also encouraged government agencies and the Filipino people to innovate and develop sustainable and smart solutions that will uplift lives and lessen the burden on the people.

Marcos also said the issuance of the new polymer banknote is “smarter, cleaner, stronger,” which, he said, serves as a response to the pressing public health and safety concerns due to the pandemic.

It also promotes environmental sustainability and celebrates the country’s rich natural and national heritage.

According to the President, the new polymer banknotes are more durable, hygienic and cost-effective and have distinct designs and security features consistent with the principles of currency integrity, social relevance, efficiency, and aesthetics, and a unified theme.

Marcos pointed out that BSP’s novel effort is in line with the government’s aim of promoting sustainability through eco-friendly production, which results in a reduced carbon footprint and lower water and energy usage.

Marcos also called for more awareness on the proper handling of polymer banknotes as he looks forward to broader traction and adoption as the country transitions to using the new polymer banknote.

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