Marcos administration a 6 out of 10, says economist

President Ferdinand Marcos Jr.. Screengrab from RTVM

MANILA, Philippines — An economist gave the administration a 6 out of 10 rating due to President Ferdinand Marcos Jr.’s unfulfilled promises for the past two years.

In an interview with Teleradyo on Wednesday, Emmanuel Leyco said Marcos promised a lot, particularly lowering the price of rice.

“We have not achieved that and it seems like we will not achieve it in the coming months,” the chief economist of Credit Rating and Investors Services Philippines said in Filipino.

Marcos has promised to bring down the price of rice to P20 per kilo, saying it is possible but “it won’t be easy.”

READ: A year into Bongbong Marcos’ rule: P20/kg rice becomes a conundrum

Leyco said that although select Kadiwa stores sell rice at P29 per kilo, it is not accessible to all.

Under Program 29 of the Department of Agriculture (DA), rice is sold at P29 per kilo to senior citizens, solo parents, and beneficiaries of the Pantawid Pamilyang Pilipino Program.

On the other hand, DA’s Rice for All program seeks to sell rice at P45 to P48 per kilo to all Filipinos.

Leyco also took note of the direction of the economy in terms of developing infrastructure, particularly the Clark International Airport Corporation’s plan to construct a 37-hectare entertainment and events center to accommodate the concerts of artists like Taylor Swift.

“It’s okay if we don’t have a Taylor Swift [concert]. It is not the basis of our growth. What we need is the infrastructure that will help boost our production, productivity, and job creation,” he said in Filipino.

Leyco also said the President should have a “clear roadmap for economic development.”

“We can’t just watch other countries’ economic growth from the sidelines all the time,” he added.

READ: PH GDP growth estimate for 2024 cut, but still 2nd fastest in Asean

On peace and order, the economist gave Marcos a positive rating, saying that the drug war under Marcos is more peaceful than the anti-illegal drug campaign of the Duterte administration.

“This is a relief. Unlike before when I would watch news about the killings…now, we do not hear news like that. The President is on the right track when it comes to combating the illegal drug trade,” he said in Filipino.

In March, Marcos said the government’s strategy in fighting the illegal drug trade “changed significantly” as he is “diametrically opposed to resorting to violence.”

Marcos also reiterated that he would not cooperate with the International Criminal Court on its probe into former President Rodrigo Duterte’s war on drugs.