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Manila Bulletin devider Business devider NEDA chief shuns question on economic impact of political feud

NEDA chief shuns question on economic impact of political feud

Published Jan 31, 2024 04:18 am

At A Glance

  • Amid political feud, National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan refrains from commenting on potential economic implications.<br>Balisacan urges journalists focus on economy, discourages questions on political discord.<br>During a press conference, Balisacan questioned on economic implications of political risk.<br>Balisacan emphasizes the impact of political instability on any country's economy.<br>He says stability is vital for major investment decisions in countries like the Philippines, Thailand, and Vietnam.

Amid the going political feud in the country, one of President Marcos’ economic managers has taken a cautious stance, refraining from commenting on the potential economic implications of the ongoing discord.

“Let’s focus on the economy,” advised National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan, encouraging journalists during a briefing to refrain from asking about the war of words between politicians today.

Balisacan, a veteran in the post, having previously served as NEDA director-general under former President Benigno S. Aquino III, considered political matters to be beyond his area of expertise.

During a press conference on Wednesday, Jan. 31, Balisacan was asked whether the political risk would have economic implications or if it would be perceived as mere noise.

Responding with a smile, the NEDA chief remarked, "Let’s focus on the economy. That's above my competency, the economics and the…”

However, Balisacan provided a broad assessment of the potential impacts of political instability on the economy of any country.

“Any country that has political instability will hurt its economy,” Balisacan said.

“Whether you're Philippines or Thailand or Vietnam, you want to ensure that stability is maintained because at the end of the day, it's what determines major decisions in relation to investment,” he added.

Last year, the Philippine economy saw a slowdown to 5.6 percent from 7.6 percent in 2022, landing below the government's target range of 6.0 percent to 7.0 percent.

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National Economic and Development Authority (NEDA) NEDA SECRETARY Arsenio M. Balisacan
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