DND says economic impact of martial law remains to be seen

The extension of martial law in Mindanao entails pros and cons even if the situation in the south has minimal impact on the economy so far, the Department of National Defense (DND) said Wednesday.

"Sa ngayon, makikita mo minimal palang naman. Kasi, alam mo, 'yung impact sa economics, matagal 'yan, merong trickle down," Defense Undersecretary Cardozo M. Luna told GMA News Online on the sidelines of the Financial Executives Institution of the Philippines (FINEX) general membership meeting in Makati City on Wednesday.

President Rodrigo R. Duterte declared martial law and suspended the writ of habeas corpus in Mindanao for 60 days on May 23, after clashes between government troops and the ISIS-linked Maute and Abu Sayyaf groups erupted in Marawi City.

With the constitutionally mandated period to end on July 22, Duterte asked Congress to extend martial law until December 31, 2017.

Luna said it will take some time before the effects of an extended martial law in Mindanao can be reviewed.

"It will take some time. May mga plus or minus 'yan kasi. If we don't do these things and the things become worse, and then mas lalong magiging worse and economics natin," Luna said.

"Kung anong effect sa GDP (gross domestic product), wala pa, hindi mo makikita pa 'yan. Meron tayong tinatawag na gestation period. Matagal 'yan," he added.

Former President Fidel V. Ramos said on Tuesday said that extending martial law could dampen investor sentiment.

But Luna noted that if the conflict in Mindanao is not addressed then the situation could get worse.

"Lalong ma-dampen kung pabayaan mong maging worse 'yan. Magiging katulad tayo ng Mosul at Raqqa at Syria. We have to do something. Kasi, kung wala kang gagawin, lalong sasama ang sitwasyon," he said. — VDS, GMA News