Marcos Fights to Revive Economy, Presidency After Graft Debacle Philippine President Ferdinand Marcos Jr faces a daunting challenge as he prepares to deliver his State of the Nation address on July 27: reviving his presidency, economy, and reputation in one go.
A year after revelations of billions of dollars in graft involving flood control schemes rocked the nation, Marcos' ratings have plummeted to an all time low, his policies have failed to deliver, and his administration is embroiled in multiple political battles.
The economic impact has been severe. The country's growth forecast was slashed from 6% before the Middle East conflict to a meager 3. 5 4. 5% in June.