20230627 AI Marcos' domestic policies in his first year img

A year into the job, President Ferdinand Marcos Jr. has shaken off some of the most pessimistic predictions that greeted his historic election victory. But the spiraling cost of living is still a huge concern for many Filipinos. (Source photos by Reuters and Getty Images)

Philippines' Marcos Jr. defies skeptics but challenges persist

As president enters second year in power, Filipinos fed up with inflation

CLIFF VENZON, Nikkei staff writer

July 4, 2023 06:00 JST

MANILA -- Having served as chief economic planner to late Philippine President Benigno Aquino III, economist Arsenio Balisacan said he never expected to take that same post under the administration of President Ferdinand Marcos Jr.

Aquino's parents led the opposition against Marcos' father, who was ousted in the 1986 People Power Revolution that ended the dictator's 20-year rule. But for Balisacan, his appointment is a sign that Marcos' determination to rework the economy is stronger than any historical baggage.