Marcos Jr. fights to revive economy, presidency amid graft scandal fallout

Philippine President Ferdinand Marcos Jr. is under intense pressure to revitalize the nation's economy and bolster his standing as he prepares to deliver his State of the Nation address. A year after his administration shocked the country with revelations of billions of dollars in graft linked to flood-control schemes, the fallout continues to impact growth, consumer spending, and business confidence.

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I will make sure that people know all of the things that we have done to navigate this very difficult period in our history, where we are buffeted by all of these external forces.

Marcos Jr., who positioned himself as a graft-buster, faces a public skeptical of his progress in cleaning up corruption. The lingering shadow of the flood-control scandal, coupled with persistent inflation and the public's perception of economic vulnerability, weighs heavily on his presidency. Analysts emphasize the need for "more explicit, decisive action and greater visibility" from the president.

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Marcos Jr. remains haunted by the lack of progress and accountability on the flood-control scandal, inflation impacts and people’s still-vulnerable economic power.

The president's administration is also mired in significant political challenges. Marcos Jr. is engaged in a public feud with Vice President Sara Duterte, who faces allegations of graft and threats in the Senate. An acquittal for Duterte could position her as a leading contender for the 2028 elections, adding another layer of complexity to the current political landscape. Even the president's sister, Senator Imee Marcos, has been observed distancing herself from his policies, indicating internal fractures within the ruling coalition.

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The administration is currently mired in multiple political battles.

Despite these challenges, Marcos Jr. has stated his intention to use his speech to highlight the effectiveness of his policies in navigating a difficult period marked by external forces. Analysts anticipate a focus on economic recovery, cost of living issues, and efforts to address infrastructure spending anomalies and prosecute those involved in the graft schemes. However, public trust remains at a low point, with vulnerable populations, particularly those affected by typhoons, expressing anger over the flood-control corruption and demanding expedited project completion.

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At the rate it’s going, our bodies will become immune to floodwaters before this project is finished.