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.
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