Composition of BBM’S economic team gets big thumbs up from business leaders

EMPLOYERS Confederation of the Philippines (ECOP) President Sergio Ortiz-luis Jr. is optimistic that the incoming economic team’s good credentials will help the country solve the country’s economic woes.

Ortiz-luis noted that since the incoming economic managers were tapped based on their respective skills and track record and not for political reasons, the ECOP chief is hopeful that these managers could drive the country towards economic recovery amid mounting economic challenges that the Philippines currently faces.

“Well, kami malaki ang pag-asa namin na we have a good team coming in, especially iyong mga economic managers na napili hindi dahil sa political basis but because, I think, talagang mga technocrat sila na kilala at mga kilala namin na magagaling na mga managers iyan sa economy,” said Ortiz-luis in a televised interview on Wednesday.

“So umaasa kami na in spite of all the problems and challenges that we have, eh malulusutan natin ’yan,” he added.

President-elect Ferdinand “Bongbong” R. Marcos Jr. appointed outgoing Bangko Sentral ng Pilipinas governor Benjamin E. Diokno to take the helm of his economic team as Finance Secretary. Diokno previously served as the Budget and Management Secretary of President Rodrigo R. Duterte before his stint at BSP.

Meanwhile, Diokno’s vacated position at BSP will be filled up by Felipe M. Medalla, a former chief of the National Economic and Development Authority (Neda). Marcos Jr. said Medalla would take on the unexpired term of Diokno as the term of the present central bank chief expires in July.

For the trade department, Marcos Jr. appointed Alfredo E. Pascual, former University of the Philippines president and current president of Management Association of the Philippines (MAP).

Marcos Jr. tapped Manuel M. Bonoan as his Department of Public Works and Highways (DPWH) chief who has spent almost all his professional life with the agency.

Meanwhile, Marcos Jr. also appointed Philippine Competition Commission (PCC) Chairman Arsenio Balisacan as Neda chief, and also previously served the same position under the administration of former the late former President Benigno S. Aquino III.

To complete his economic team, Marcos appointed Amenah F. Pangandaman as Department Budget and Management secretar y. Pangandaman served as budget undersecretary functioning as Group Head of the Office of Secretary under then budget chief Benjamin Diokno from 2016 to 2019.

Local business groups and analysts also welcomed last month the nominees of President-elect Marcos for his economic team, saying they have the requisite skills and experience to address the fiscal challenges created by the pandemic.