BSP chief says economic team to be mostly intact

President Marcos presents to Secretary Arsenio Balisacan a framed copy of Republic Act No. 12145 reorganized the National Economic Development Authority (NEDA) into the full-fledged Department of Economic Planning and Development or DEPDev. (Presidential Communications Office/Facebook)

MANILA, Philippines — Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. on Friday said he expected no big changes in the Marcos administration’s  economic team. At the same time the Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) expressed full support for President’s reassessment of his Cabinet.

Remolona said in a media briefing he expected the re-appointment of  most of the economic secretaries.

“I think the President just wants to have a freer hand and maybe review the performance of his cabinet,” Remolona told reporters.

“But I expect that most of them will be reappointed or their resignations will not be accepted, most of them,” he added.

When asked about the President’s possible dissatisfaction, Remolona said it likely stems from political considerations.

“I think it’s more political than economic. The economic team is very professional. They’ve been doing all the right things,” he said.

‘More responsive’ government

In a statement, FFCCCII president Victor Lim said the business group the President’s call for courtesy resignations reflected a commitment to accountability and a more responsive administration.

“The President’s action demonstrates his strong leadership and a clear vision for a more responsive and effective government, responsible and accountable to the Filipino people,” Lim said.

READ: LIST: 33 members of Marcos’ cabinet have filed courtesy resignations so far

“President Marcos heard and listened to the call of the people for better governance and improved public service,” he added.

Lim said that the President’s decision “resonates the aspirations of the entire country.” He said this creates space for a leadership team aligned with the administration’s goals.

“As members of the business community, we believe that effective public administration is not only a matter of good governance but also a critical component of a stable economic environment,” Lim said.

“This will also enable us to take advantage of business opportunities available for the country’s development,” he added.