Marcos vows prudent spending by his gov’t

President Ferdinand "Bongbong" Marcos Jr. on Wednesday vowed prudent spending in his government as the Bangko Sentral ng Pilipinas presented Philippine banknotes bearing his signature and the new coin series with the BSP logo.

According to Marcos, the issuance of the new polymer banknote is “smarter, cleaner, stronger,” which "serves as a response to the pressing public health and safety concerns due to the pandemic."

"Be assured that it is the policy of this administration, to ensure that every peso and every centavo that the government spends in its programs and projects will be to the benefit of all Filipinos,” Marcos said in his speech during the presentation of banknotes in Malacañang Palace.

“So I convey my full support to all of our BSP officials and their employees. I also have complete confidence in your capability, competence, and integrity," Marcos added.

Marcos urged the BSP and other concerned agencies to further intensify efforts against counterfeiting and other illegal activities.

He also tasked them to ensure price stability, enrich banking reforms, and sharpen strategies to guarantee that public interest remains at the heart of the government’s priorities.

The President also encouraged government agencies and the public to innovate and come up with sustainable and smart solutions that will uplift lives and lessen the burden on the people.

Marcos also rallied for unity to improve the safety and efficiency of the Philippine financial system and make it an instrument of progress in order to benefit ordinary Filipinos.

"Unity" was the centerpiece of the campaign of Marcos during the presidential elections.

The Palace said the new banknotes are more durable, hygienic and cost-effective and have distinct designs and security features consistent with the principles of currency integrity, social relevance, efficiency, aesthetics, as well as having a unified theme. — BM, GMA Integrated News