Marcos's economic team

PHILIPPINES - In Brief 25 May 2022 by Romeo Bernardo
We have it on good authority that the next finance secretary will be BSP Governor Benjamin Diokno. This is good news for financial markets. So far, President-elect Ferdinand Marcos, Jr.’s inspired choices for his economic team – Governor Diokno for Finance and economist Arsenio Balisacan for NEDA – send a clear signal of continuity as far as the macroeconomic policies are concerned. Both men are serving under the Duterte administration with Governor Diokno initially appointed as budget secretary before moving to the BSP and Dr. Balisacan serving as the chairman of the Philippine Competition Commission. The difference is that Dr. Balisacan was appointed to the PCC by former President Benigno Aquino, Jr. in 2016 from being NEDA head for close to 4 years. Although Dr. Balisacan is widely associated with the former president, the son of another former president, Corazon Aquino, who led the people power movement that ousted President-elect Marcos’s father back in 1986, he in fact hails from the same province as the Marcoses. Both men were economics professors in the state university. The question now is, who will be appointed to the BSP to serve out the remaining 1-1/2 years of Governor Diokno’s term? We will have more on our outlook on governance and policy directions in our upcoming forecast report.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.