Makati Business Club on Marcos’ economic team: ‘We like these guys’

The Makati Business Club, one of the most prominent business organizations in the country, on Thursday expressed their support for the current economic team of the government amid the call of President Ferdinand “Bongbong” Marcos Jr. for the courtesy resignations of all Cabinet secretaries.

According to MBC executive director Rafael “Apa” Ongpin, the business group is generally happy with the current economic team and a major revamp of the current cabinet would be a big surprise.

“I think I can safely say that we will be very surprised if there is an actual big revamp at this time. We at Makati Business Club have a lot of respect especially for the economic cluster. We like these guys. We think they’re the best people for the job,” he told reporters in a press briefing in Makati City.

“These guys are well qualified for the position so we will be very surprised if Marcos accepted their resignations and let them go,” he added.

This comes as Marcos called for the courtesy resignation of his Cabinet members, as he aims to “recalibrate” his administration after the midterm polls where only six of his endorsed senatorial candidates entered the top 12.

In response, members of the economic team — Economic Planning and Development Secretary Arsenio Balisacan, Finance Secretary Ralph Recto, Budget Secretary Amenah Pangandaman, Trade Secretary Cristina Roque, and Special Assistant to the President for Investment and Economic Affairs Frederick Go  — have complied with the President’s call.

“Generally speaking, of course, it’s not always a perfect score, but generally speaking, we believe the President has a very good economic team,” MBC chairman Edgar Chua said in the same briefing.

“If all of them or many of them will be replaced, it will be disruptive so we are hoping that the President will be able to retain the really good ones and their performance will speak for themselves,” he said.

According to Chua, the group believes that Marcos’s announcement is to enable him to have a free hand in appointing or reappointing people who could deliver in the second half of his administration which ends in 2028.

“Having everyone tender their courtesy resignation is a gracious way for those who will not reappointed, so we just hope that the President will be able to quickly announce who will be appointed or reappointed so that there is minimal disruption in the continuity in the programs of government, which for the economic team, has been quite good,” he added.

The inter-agency Development Budget Coordination Committee (DBCC) has set an economic growth target of 6% to 8% from 2025 to 2028. It also hopes to bring down the poverty rate to 9%, and the debt-to-gross domestic product to below 60% by the end of the term. —RF, GMA Integrated News