The Maharlika Investment Fund can generate a 0.07-percentage point economic growth annually in the first 10 years of operation and generate about 100,000 direct and indirect jobs, the Department of Finance said.
The department said contribution to growth was included in the National Economic and Development Authority paper earlier submitted to the Senate. In contrast, NEDA also projected returns in a scenario where there is no MIF, and the PHP125 billion used for the initial capitalization remains with the founding government financial institutions and the national government.
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