‘Turmoil everywhere’

Time moves differently depending on where you are. To a collegiate basketball team defending its championship title, perhaps time moves so fast it’s almost dizzying. To the weary and sun-baked farmer waiting for his crops to grow, time is frustratingly slow.

But for millions of Filipinos mired in poverty, the worth of each day and every hour, and of every meal, is infinitely greater because it means one has survived yet another day in this nation of 110 million.

I thought about this as I listened intently to President Marcos’ speech at the Manila Overseas Press Club President’s Night on Wednesday.

Talking about his first 100 days in office, Marcos reiterated his message of unity, of each and everyone of us working together so that Filipinos can reach their full potential way beyond just surviving the daily and challenging everyday life.

“The goal is simple. It is clear. We want every Filipino and every island in this archipelago to have an environment and the tools that will enable them to go beyond surviving each day,” Marcos said.

Marcos is very much on point. This is exactly where millions of Filipinos are every single day.

But I’m not talking about the tycoons and the executives who surround him regularly. I’m talking about the most ordinary amongst us — the farmers toiling land to bring food to their tables and ours; the fishermen playing cat-and-mouse with Chinese encroachers; the street sweepers who sometimes get hit by irresponsible and heartless drivers; the contractual workers, and those who live a hand-to-mouth existence.

Count the commuters, too, who wait for hours on end—time they could have spent with their loved ones—just to wait for free rides along EDSA.

They certainly need the environment and tools to go beyond surviving each day, as Marcos said.

Unity

To get to this point, Marcos said, we have to be united as a country, reiterating his campaign promise.

“Unity has been our battle cry since the beginning of the campaign, and now we are [settling] into our track and finding our pace for the six-year marathon; it remains – unity remains, one of the primary driving forces in pursuing economic recovery,” he said.

To a certain extent, this is a breath of fresh air from his predecessor’s divisive speeches and late night ramblings and empty rhetorics that go all the way to the wee hours of the morning.

But this battlecry of unity can only take us so far. He is certainly racing against time given our gloomy situation now.

The numbers are alarming and telling: Inflation is scorching hot at 6.9 percent in September, a four-year high. This means more rate hikes, which would also mean slower economic growth.

Moody’s Analytics has already slashed its 2022 gross domestic product (GDP) growth target for the Philippines to 6.8 percent from the original target of 7.2 percent as high interest rates and slower global growth challenge Asia-Pacific economies.

Steven Cochrane, chief economist at Moody’s Analytics, said the regional economy is being tested.

“Export markets are weakening, inflation is rising, and the multiple imbalances holding back China’s economy have only just begun to abate with no clear signal yet of the future,” he said.

The research arm of the Moody’s Group expects Philippine economic growth to slow down to 6.4 percent in 2023 and further to 6.1 percent in 2024, lower than the government’s target of 6.5 to eight percent. (Philippine Star, Sept. 22)

What are Marcos’ specific growth plans? Will there be new taxes? Will there be subsidies for the marginalized sectors? Where will the funds for this come from?

Uncertain future

As Marcos himself said, “it is an uncertain world that we are facing; it is an uncertain future, and that makes those partnerships all the more important. Again, the concept of unity applies.”

But again, as I said, unity can only take us so far.

As MOPC chairperson and CEO, veteran journalist Tony Lopez said in his opening remarks that evening:

‘There is turmoil everywhere—inside decision-making board rooms, in currency markets, in stock markets, and on a number of strategic battlefronts.”

Against this backdrop, our government certainly needs to do more. We need evasive action on all fronts.

Marcos highlighted the issue of food security in the country. The Department of Agriculture, he said, has continuously provided production inputs to farmers and fisherfolk, such as high-quality seeds and fertilizers, as well as post-harvest machinery and facilities, including trucks, dryers, and mills to improve productivity.

These initiatives will not be enough unless they actually translate to price stability.

‘Build Better More’

He also talked about strengthening public-private partnerships and sustaining the robust infrastructure initiatives of the past administration. He promised to ‘Build Better More.’

This is also a welcome development. We needed critical infrastructure yesterday.  We’re already way behind our regional peers in terms of having modern roads and airports.

Marcos certainly knows the problems. He has six years to address these challenges, but he must keep in mind that time is moving swiftly, even faster than those Formula One cars he enjoyed watching at the Singapore Prix.

I fervently hope that he fulfills his promise of ensuring that each and every Filipino can go beyond just surviving everyday life.

Iris Gonzales’ email address is [email protected]. Follow her on Twitter @eyesgonzales. Column archives at eyesgonzales.com.