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While the economic team has highlighted what the economy could be like five decades from now, sentiment from the business community, so far, has been tepid.by the Bangko Sentral ng Pilipinas revealed that business sentiment turned less upbeat in the second quarter due to softer demand for goods and services, ongoing international conflicts that may push oil prices higher, and a slowdown in business activity due to El Niño.
Prices of rice, the Filipino household's staple food, remained at double-digit levels, rising to 22.5% in June. Unemployment under the Marcos administration has remained low, but the quality of jobs and wages remains in question. Marcos, however, is operating under a tight fiscal space amid mounting debt. His predecessor, former president Rodrigo Duterte, borrowed a total of P6.8 trillion during his term, leaving Marcos with the problem of managing debt while maintaining economic growth.
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