A senior lawmaker suggested on Thursday that the government’s economic and communications teams work together to launch a nationwide information, education, and communication campaign to bump up public awareness—and hopefully appreciation—of the recently enacted Maharlika Investment Fund Act.
“This is urgent as the results of public opinion polls showing that although there has been significant support from Filipinos familiar with the MIF, a majority of our people are actually clueless about this Fund, much less know that it will greatly benefit our people,” said Villafuerte. Latest Bureau of the Treasury data showed that the country’s outstanding debt stood as of end-May at P14.096 trillion, or P185 billion higher than the month-ago debt stock of P13.911 trillion and P1.601 trillion higher than the May 2022 level of P12.495 trillion.
“This means that in order for the MIF to get great traction across the country, a nationwide effort has to be mounted right away to make most Filipinos aware of this investment fund—and how it will actually spell better lives for our people even before the end of the Marcos presidency,” he said. Moreover, the President noted that the Fund has the potential to funnel in external financing, reducing the government’s burden to finance infrastructure through borrowings and taxes. “The establishment of a sovereign wealth fund will widen the government’s fiscal space and ease pressure in financing public infrastructure projects,” he said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NEDA chief guarantees Maharlika Investment Fund won't affect national budgetA day after the Maharlika Investment Fund was signed into law, National Economic and Development Authority Secretary Arsenio Balisacan ensured that the fund will not affect the national budget for fiscal year 2024.
Source: gmanews - 🏆 11. / 68 Read more »
Growth, infra boost eyed with Maharlika | Cai U. OrdinarioTHE signing of the Maharlika Investment Fund (MIF) will give the country’s infrastructure program and economic growth targets a much-needed boost while creating more jobs, and will prepare the country for being weaned away from an over-reliance on debts for development, economic managers said on Tuesday. The Department of Finance…
Source: BusinessMirror - 🏆 19. / 59 Read more »
Marcos sees ‘progress’ with Maharlika, vows no politics | Samuel P. MedenillaWITH his signing of Republic Act 11954 or the Maharlika Investment Fund (MIF) Act on Tuesday, President Ferdinand R. Marcos Jr. said the government can now generate additional revenue, while accelerating economic growth through increased investments from the creation of the country’s first sovereign fund. Besides citing its safeguards against abuse, he also…
Source: BusinessMirror - 🏆 19. / 59 Read more »
Zubiri not worried about Maharlika being questioned before Supreme CourtSenate President Juan Miguel Zubiri on Wednesday shrugged off plans of some groups to challenge the Maharlika Investment Fund law before the Supreme Court.
Source: CNN Philippines - 🏆 13. / 63 Read more »
Sen. Pimentel sees ‘tough’ legal obstacles for Maharlika Fund Act | Butch FernandezAs expected, Senate Minority Leader Aquilino “Koko” Pimentel III on Tuesday deplored the signing into law of the Maharlika Investment Fund (MIF), which he said was crafted using “unconstitutional shortcuts,” and predicted that the measure “will definitely be questioned before the Supreme Court.” He cited three grounds on why the…
Source: BusinessMirror - 🏆 19. / 59 Read more »
Balisacan: 2024 budget won't be used for Maharlika fundNATIONAL Economic and Development Authority (NEDA) Chief Arsenio Balisacan on Wednesday assured the public that the proposed 2024 national budget will not be used for the Maharlika Investment Fund (MIF).
Source: TheManilaTimes - 🏆 2. / 92 Read more »