Diokno: Marcos presented a fundamentally sound Philippine economy at WEF

President Ferdinand "Bongbong" Marcos Jr. has showcased to the international community a "fundamentally sound" Philippine economy, Finance Secretary Benjamin Diokno said Friday.

In a statement issued by the Presidential Communications Office, Diokno was quoted as saying that Marcos' participation in the 2023 World Economic Forum held in Davos, Switzerland was "path-breaking."

"The President successfully pictured to the international community an economy that is fundamentally sound and is expected to have one of the highest growth rates in the Asia Pacific region, if not the world," Diokno said.

Diokno further said Marcos also presented a "politically stable country, whose leader was popularly elected by a great majority of its voting population, with a frictionless and smooth transition of power."

The President has said the Philippines is expected to post a seven-percent economic growth this year, with strong macro-economic fundamentals in place.

He said countries need to guarantee that sufficient welfare measures are in place "to cushion the impact of elevated inflationary pressures," especially its effects on the most vulnerable sectors.

According to Diokno, the Chief Executive also showed that the Philippines is a country with strong support from its private sector partners as seen by the attendance and participation of Filipino businessmen in the WEF.

"The active and enthusiastic participation of the Philippine business leaders in the WEF activities was truly impressive," Diokno said.

Among those included in the business delegation were Sabin Aboitiz (Aboitiz); Kevin Andrew Tan (Alliance Global); Jaime Augusto Zobel de Ayala (Ayala Group); Lance Gokongwei (JG Summit Holdings); Ramon Ang (San Miguel Corp.); Teresita Sy-Coson (SM Investments); Enrique Razon (International Container Terminal); and Manuel Pangilinan (PLDT and Smart). — Anna Felicia Bajo/RSJ, GMA Integrated News