On Saturday, presidential candidates revealed their economic agendas and suggestions about who would be on their economic team.
Former Defense Secretary Norberto Gonzales stated he would encourage sources of financing for businesses to prosper and employment to grow in a CNN Philippines debate.
Gonzales added that even small shops like sari-sari stores need additional financing to help them survive.
“Dapat iexpand natin ang mga magpaparticipate na magpapalago ng ating ekonomiya lalo na sa emergency situation kaya bubuksan natin ang source of capital para maibigay natin sa lahat ng nagnanais na magkaroon ng hanap-buhay,” Gonzales said.
Senator Panfilo Lacson did not name his economic team if elected as president. However, he indicated he would choose an expert in the sector.
If he is elected president, Lacson stated that there would be no “tradeoff” between the economy and health care.
The senator went on to say that strategies should be put in place so that the country can shift from pandemic to endemic status.
“COVID-19 is here to stay whether it is pandemic or endemic. So kailangan mayroon na tayong (we need) policy directions, and we must be ready to face the next pandemic,” Lacson said.
Presidential candidates discuss economic agenda
Lacson said the government should provide loans to micro, small, and medium enterprises.
He said that MSMEs account for 99.5 percent of the business industry and 63.2 percent of the workforce.
“So kailangan mayroon tayong comprehensive and targeted financial packages and incentives [though] ‘yung ating mga [government] financial institutions katulad ng LandBank [of the Philippines] at [Development Bank of the Philippines], in coordination na rin sa ating mga bangko na pribado,” Lacson said.
“The partnership between the government and the private sector should be very close, especially ‘pag may krisis na ganito (if there is a crisis like this),” he added.
Meanwhile, Manila Mayor Francisco “Isko” Moreno stated he would appoint people with experience in economics. His government would make the country more competitive to attract more foreign direct investment.
Senator Manny Pacquiao stated that the government should concentrate on revenue, as non-tax income only accounted for 6% of the country’s overall income due to corruption.
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