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New NEDA chief: Let my track record as 'objective economist' speak for itself


Newly appointed Acting Socioeconomic Planning Secretary Karl Kendrick Chua on Tuesday said his track record as an "objective economist" would speak for itself, responding to remarks of his predecessor that he should have an "independent mind."

Chua assumed office as the new chief of the National Economic and Development Authority (NEDA) after its previous head Secretary Ernesto Pernia resigned last week due to supposed differences with other Cabinet members.

"I think my track record of being an objective economist should speak for itself," he said at a virtual briefing on Tuesday.

"I guess in general, track record would be the best answer to that because people see where I came from, the work that I've done, and the comments and praises of other people, so I welcome them and I hope my track record can serve as the answer to this question," he elaborated.

Chua was asked to respond to remarks of his predecessor, former NEDA Secretary Ernesto Pernia, who commented on Chua's appointment last week: "He's a very able economist, but I hope he will have an independent mind and also not just agree on anything."

Pernia over the weekend said he wanted to continue serving the government in the fight against COVID-19, but his proposal to open up more economic activity was a "dissonant" voice in the Cabinet.

Chua previously assisted Pernia in several projects under the University of the Philippines. Prior to his appointment, Chua served as Finance Undersecretary where he pushed for tax reform.

"Since 2002, I have been in the field of economics and I spent 12 years in the World Bank doing a lot of the work NEDA is thinking about right now -- the macroeconomy, the long-term development of the country, monetary fiscal policy," said Chua.

"I used to write the Philippine Economic Update where we look at the picture of the economy from a holistic picture and tax reform has always been one of the unquestioned priorities we think government should pursue because it's not really about raising money, it's about raising money to finance important investment that will make a difference in our economy," he elaborated. -MDM, GMA News

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