Former Vice Governor and economist Joey Pelaez expressed deep concern over the country’s economic slowdown despite the proposed ₱7.1 Trillion National Expenditure Program.
Pelaez highlighted that sluggish Gross Domestic Product (GDP) growth—currently at 2.3% alongside a 7% inflation rate—severely impacts household livelihoods.
He warned that the national budget appears geared toward an “election budget” driven by political insertions in Congress, emphasizing that funding this massive expenditure requires significant foreign and local debt.
