PRESIDENT Ferdinand R. Marcos Jr., held his second State of the Nation Address (SONA) on Monday where he received a loud round of applause as he entered the House plenary.
Senate President Migz Zuburi and House Speaker Martin Romualdez presided over the joint session of the two chambers of Congress.
In his second SONA, President Marcos first greeted Vice President Sara Duterte, Former President Erap Estrada, Supreme Court Chief Justice Alexander G. Gesmundo, members of the diplomat in the country, its cabinets, and legislators.
And in his speech, President Marcos first talked about how the Philippines endured amid current struggles such as the inflation rate and the impact of the COVID-19 pandemic.
He touted the country’s robust growth citing a gross domestic product growth rate of 7.6 percent in 2022 the highest in more than 40 years.
Pres. Marcos also said that the Philippines’ economic target for the first quarter of 2023 remains the same.
The Philippine financial system also remains strong- as said by the president- and it continues to recover from the impact brought by the pandemic.
The digital economy, according to President Marcos, played a pivotal role in the recovery of the country.
Marcos said this event reflects the Philippine economy’s revival and rejuvenation bolstered by an enabling environment and what he calls as the strong rule of law.
For the country’s inflation rate, Pres. Marcos said it’s showing signs of easing, with the Bangko Sentral anticipating further eases to hit 2.9 percent by 2024.
