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INDIVIDUAL ASSIGNMENT - 2023 SONA of President Marcos - EnriquezJosh

President Marcos emphasized price stability and economic diversification in his 2023 SONA. He signed the Maharlika Investment Fund into law to encourage business development and farming through allocating resources to transportation infrastructure. While President Marcos focused on establishing sustainable growth, he did not accomplish his campaign pledge to revitalize agriculture in his first year as challenges remain in improving efficiency and farmer support.

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291 views3 pages

INDIVIDUAL ASSIGNMENT - 2023 SONA of President Marcos - EnriquezJosh

President Marcos emphasized price stability and economic diversification in his 2023 SONA. He signed the Maharlika Investment Fund into law to encourage business development and farming through allocating resources to transportation infrastructure. While President Marcos focused on establishing sustainable growth, he did not accomplish his campaign pledge to revitalize agriculture in his first year as challenges remain in improving efficiency and farmer support.

Uploaded by

Joshua Enriquez
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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2023 SONA of President Marcos

a. The key microeconomics highlights of President Marcos's report that impacted the economy

are as follows:

Emphasis was placed by President Marcos on ensuring price stability, which would

benefit both residential areas and commercial entities. A steady pricing landscape would greatly

facilitate the budgeting process for many households. Furthermore, it would foster an ideal

climate conducive to strategic planning and wise financial commitments. Highlighting the

administration's focus on environmentally conscious economic development, President Marcos

emphasized their goals. Diversification within industries, combined with encouragement of

creativity, would drive entrepreneurial growth. By putting these measures in place, we can

unlock innovative possibilities for businesses and individuals, stimulating economic progress and

labor market expansion.

Through President Marcos' signing of the law, the Maharlika Investment Fund was

born, a self-governing financial instrument designed to encourage enterprise development and

farming initiatives. This proposal seeks to allocate resources towards building critical

transportation systems, including airports and railways. The fund's resources will be leveraged to

boost economic performance, create jobs, and upgrade transport networks, resulting in mutually

advantageous outcomes for both households and businesses.

b. Key takeaways from President Marcos's SONA:

Through his SONA, President Marcos underscored the imperative of price stability and

economic metamorphosis. These statements suggest a strong dedication to tackling economic

obstacles confronting the nation and a concentration on establishing sustainable expansion and
2023 SONA of President Marcos
progress. President Marcos did not broach controversial issues such as border disputes and drug

investigations during his SONA remarks. His remarks suggest a plan to pivot the public's

attention away from economic difficulties and emphasize the accomplishments of his

administration, possibly in a bid to construct a favorable account and secure backing.

c. Advocacy/programs not accomplished in the first year of presidency:

President Marcos staked his electoral platform on the pledge to revitalize the

agriculture sector by tackling challenges including poor efficiency and insufficient assistance

for growers. Despite being in office for only a year, President Marcos did not see much

movement on this front. The unrealized advocacy underscores the necessity of sustained

initiatives to enhance the agricultural industry and benefit rural families. Emphasizing the

urgency of these projects, President Marcos discussed them at length during his campaign. In his

inaugural term, the intended overhauls failed to come to fruition. These findings highlight the

complexities associated with launching extensive infrastructure projects and the importance

of consistent action to address existing shortfalls in the nation's infrastructure.


2023 SONA of President Marcos
References

Cupin, B. (2023, July 24). SONA 2023: What does a ‘New Philippines’ mean in Marcos Year 2?

RAPPLER. https://www.rappler.com/nation/sona-2023-new-philippines-marcos-jr-

administration/

PricewaterhouseCoopers. (n.d.). SONA 2023. PwC.

https://www.pwc.com/ph/en/publications/pwc-publications/2023/sona-2023.html

Guiao, M. A. (2023). Maharlika Investment Fund + MORE: Highlights from SONA 2023.

SPOT.PH. https://www.spot.ph/newsfeatures/policy/105657/sona-2023-highlights-to-

know-a5229-20230724

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