Marcos’ Year 3 report card (Part 1)

In 30 days, PBBM will mark his third year in office. This is how I assess his performance.

Backtrack to 2022 and critics accused Marcos Junior of being a weak leader. He was said to be too laid back, with no real reform agenda except to preserve the family’s wealth. His performance in Congress and the Senate seemed to correspond to the allegation. When he ascended to the presidency, I purposely gave him the benefit of the doubt. We are Team Philippines, after all, and we should all support each other. That’s exactly what I did.

The first few months were promising. He appointed a Cabinet composed of professionals, not cronies. He re-calibrated our foreign policy to lean towards like-minded countries who stand for the rules-based order. He took a strong stance against China’s territorial grab. He went on a world tour to promote investments. His initial performance inspired confidence.

But it stopped there. In the last two years, Marcos appeared to have coasted along, remiss in addressing the important issues that threaten our future.

The biggest threat to the nation is corruption. It is a malignant cancer and the root of the country’s economic underachievement and social problems. Members of Congress and the Senate have become increasingly brazen in their plunderous schemes. Almost every congressman is a contractor, shaving off 30 percent to 80 percent of the cost of infrastructure and social development projects. Many are smugglers. Even more use their position to extract rent-seeking contracts. The same for many local government officials.

The extent of corruption is no longer tenable. Out of the P6.2-trillion national budget for 2025, it is estimated that some P500 billion was appropriated to senators and congressmen via pork in its various forms. Not only has Marcos approved the budget, he fought hard for it. He vetoed a measly P194 billion to shut critics up.

Marcos has done nothing to stem the abuses of the political elite, let alone embark on an earnest anti-corruption campaign. His budgets even encourage it. In terms of undue entitlement, he has not done anything to stop the special treatment “public servants” accord to themselves. Corruption and entitlement has become so unabashed that the electorate rejected the majority of Marcos’ candidates in the midterm elections. The people’s indignation manifested in their votes.

Another tumor is the poor quality of our political leaders. Our political system is awash with self-serving dynasties, the majority are corrupt and downright unprepared for the job. Yet, there has been no hint of electoral reform under Marcos’ leadership. On the contrary, Marcos’ senatorial slate was replete with non-performers, rent-seekers and convicted plunderers.

In terms of the economy, there has been no increase in foreign direct investments in 2024 (from 2023) and our manufacturing base continues to deteriorate. Everybody knows what the impediments to manufacturing investments are. They include infrastructure bottlenecks, bureaucratic red tape, etc. Marcos and his economic team have not worked with the kind of urgency needed to resolve these impediments. They still persist. Reforms are crawling while our neighbors are rallying ahead.

Threats to our money-making IT-BPO industry are looming with artificial intelligence and tariffs on the horizon. Marcos has not championed a new export-oriented industry which I find to be downright irresponsible. His DTI secretary’s preoccupation with MSMEs won’t move the needle.

The entire economic team is a disappointment and the statistics show it. Yet, none of them were replaced in the Cabinet reshuffle. With the same cast, the chances of us transitioning to an investment driven, manufacturing economy is bleak.

Geopolitically, President Trump’s America First policy fueled the flames of distrust among allies. Nations are becoming more inward looking, abandoning multilateral cooperation for self-interest. We have not heard a peep from Marcos regarding this seismic change. Bad times are coming and Marcos presents no assessment of weaknesses, no contingencies, no strategic plan. He seems to be allowing the country to fall victim to global tides, wherever they may lead.

America and China are now in fierce competition for global supremacy. This rivalry has changed the geopolitical landscape and although neither China nor America are forcing nations to choose sides, we all must. The Philippines will obviously choose America, given our territorial dispute with China. But it comes at the risk of being economically isolated by China. Marcos has not spoken about this. Does he even have a plan?

Trump’s tariffs is weighing heavily on the global economy. It has already resulted in slower global growth and a worldwide slump in trade and investments. This comes at a time when the Philippines is in the midst of its demographic sweet spot and our path to prosperity will be disrupted if we fail to adapt. Again, Marcos presents no plan to offset the headwinds, neither does his economic team.

The Department of Agriculture falls short. Agricultural output contracted by 2.2 percent last year. No meaningful reform has been rolled-out. No big-time smuggler has been arrested.

Personally, I looked forward to the “Marcos touch” of the 70’s in as far as modernizing our capital city, making it a symbol of progress and soft power. No such “Marcos touch” exists this time around. Metro Manila remains the ugly neighbor to Bangkok and Singapore.

So all in all, I count the last two years as squandered opportunity.

Look, Marcos already achieved his objectives in becoming president. The family’s corruption cases have miraculously vanished and the clan gets to keep their loot. He redeemed the Marcos brand. The least he can do, in return, is to be a responsible Chief Executive.

Marcos still has three years remaining and we hope he will use it to earnestly excise the country’s cancers and to set up the country for a brighter future.

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Email: [email protected]. Follow him on Twitter @aj_masigan