Nov 29, 2024 - 16:09
By manilatimes.net

'Political noise won't slow down economy'

(UPDATE) THE prevailing political noise will not affect the performance of the economy, given the government's «sound and sustained» economic policies, the National Economic and Development Authority (NEDA) said Thursday.

NEDA Secretary Arsenio Balisacan issued the statement after meeting with President Ferdinand Marcos Jr., Senate President Francis Escudero and Speaker Martin Romualdez in Malacañang on Thursday.

Speaking to reporters, Balisacan said that «it's business as usual» for the country's economic managers even amid the worsening political strife between the and members of the Duterte family.

«I don't think these political noises would have any impact on the economy. What is important is that our economic policies, our economic policy directions are sound and sustained,» Balisacan said during a Palace press conference.

«In fact, that has been the case for the Philippines since late 1990s — that the economy continued to progress despite the political noises simply because the economic policies and our directions have been broadly sustained,» he added.

Balisacan said the Marcos administration would continue to focus on meeting the targets set under the Philippine Development Plan to steer the country towards prosperity and resiliency.

«In this administration, we are so focused on ensuring that the goals and targets and strategies that we have outlined in the Philippine Development Plan will be achieved. And that's what is important for the broad public to signal that the economic momentum is sustained,» he said.

The NEDA chief also said that for as long as the government stayed on course with its economic priorities and programs, the business community would maintain its confidence in the economy.

He said any impact from the political struggles would be «quite minimal.»

«What's so important for the business community is the sustainability of our economic agenda,» he added.

During the same press briefing, Trade Secretary Ma. Cristina Roque said that more investments were also coming in despite the political tensions.

«There are a lot of investments that are coming in and we are pursuing those investments. So, they haven't mentioned