The Maharlika fund would be invested in agriculture, infrastructure, and energy development, President Ferdinand “Bongbong” Marcos Jr. said on Tuesday, July 18 | ManilaBulletin READ:
President Ferdinand Marcos Jr. signs into law the bill establishing the Maharlika Investment Fund or Republic Act 11954. Among those who witnessed the event are Speaker Martin Romualdez, Sen. Mark Villar, Senate President Juan Miguel Zubiri and Executive Secretary Lucas Bersamin .
“Eh nanunood ako ng television sabi ko, ‘Syempre kinakausap ko ang TV, saan nyo kaya iniisip na ilalagay yan, bibili kami ng magagarang kotse? Bibili kami ng malalaki yate? Yan ba ‘yung iniisip ninyo ,’” he said at the signing of the MIF Act of 2023 in Malacañang. Similar to what his economic managers have been saying, the Chief Executive also pointed out that the fund would help the country’s fiscal deficit, including the “potential to funnel external financing, reducing the government’s burden to finance infrastructure through borrowings, taxes.”
He said that the MIF, which is a “crucial undertaking,” will support the government’s goal of achieving 6.5 percent to 8 percent gross domestic product growth in the medium term.
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