'I think President Marcos is trying to make the economy recover, but how will he do it? It's really unclear,' says a Cagayan de Oro councilor.
Quimbo’s announcement came after the Marcos administration saw athat opposed the proposal to use pension funds for government investments.
“I think President Marcos is trying to make the economy recover, but how will he do it? It’s really unclear,” Goking told Rappler on Thursday, December 8. He said, “They should be careful. We are still in a topsy-turvy state because we already took a lot of risks. I do not know where we can borrow money again. But are we still credible if we seek more loans given our debts that accrued to trillions of pesos across several administrations?”Another councilor, James Judith, said he was for having a sovereign wealth fund just like other countries but he felt uncomfortable about using the central bank’s surplus funds.
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