A BICOLANO lawmaker urged the Senate to demonstrate its dedication to supporting the economic reforms being pushed by President Ferdinand R. Marcos Jr. who has stressed the urgency of amending the “restrictive” economic provisions under the 1987 Constitution.
Ako Bicol Partylist Representative Raul Angelo “Jil” D. Bongalon, a member of the House Committee on Constitutional Amendments, agreed with the observation of President Marcos, who pointed out that the current Constitution, while having served the country well for over three decades, contains provisions that now pose limitations to economic growth, foreign investment, and governance efficiency.
“We urge the esteemed members of the Senate to take into account the statement of our President, who emphasized the need to facilitate the entry of significant foreign investments. This will pave the way for faster and more inclusive economic growth, which can ultimately lead to a better quality of life for all Filipinos,” Bongalon said.
During a speech on Thursday, February 8, the President addressed lawmakers, government officials, and members of the Philippine Constitution Association (PHILCONSA) and presented his plan for a revitalized Philippines that can effectively handle the challenges of the 21st century through necessary constitutional reforms.
The President reiterated, “I want to make it clear: This Administration’s position in introducing reforms to our Constitution extends to economic matters alone or those strategically aimed at boosting our country’s economy. Nothing more.”
The Chief Executive noted that despite a nearly 16 percent decrement in the net foreign direct investment (FDI) inflows, the Philippine economy continues to grow and is expected to grow further by 6 and a half to 7 and a half percent this year.
“Our country’s economic well-being is a distinctly important concern. Many sectors of our society, particularly business, have pointed to certain economic provisions in the Constitution that inhibit our growth momentum,” President Marcos said.
During the same event, retired Supreme Court (SC) Chief Justice Reynato S. Puno cited the United States’ experience, saying there is no Constitution – by people and among people “that is perfect, errorless, hence timeless and (without) changes.”
