1st Sona of President Marcos Reflection

Basic Microeconomics: 1st SONA of President Marcos
a. What are the key microeconomics highlights of President Marcos's report which
will make an impact on our economy? List at least 3 and explain how they will
affect the microeconomics units, that is, households and business firms (whether
positively or negatively.
1. Modernize farms and Food Crisis Response. President Marcos’s goal is to

utilize modern technology for our farmers and expand our fisheries, livestock,
and poultry. Modernization has been overwhelmingly good for humanity in terms
of economic and social improvement, but it also has some negative impacts.
Regarding the fishery sector, it has caused the following impacts: Most of the
marine fishing grounds have been excessively overexploited for human
consumption, for fish meal, vitamins, and various other uses. Science will be
used to increase agricultural production. Even the post-production processing will
be supported by the government.
In addition, the PBBM-managed Department of Agriculture promises to develop

practical answers to the rising costs and scarcity of food. By providing farmers
with financial and technical assistance, PBBM promised to address this
persistent issue by boosting the rate of agricultural production. Farmers and
fishermen will be the administration's top priorities, he declared. Over time, the
nation's agricultural industry has not gotten the support and benefits it deserves.
The primary source of food consumption is agriculture, claim Beckman and
Countryman (2021). To address the current rise in the price of commodities,
PBBM wishes to concentrate on maximizing the outputs of the farmers and
fishers. The price of each item will decrease as manufacturing increases.
Families from the lower class also can afford to buy basic foods at the market.
2. Sound Fiscal Management. To improve fund management for the nation's

lagging pandemic spending, the administration will alter its tax collection policies
and guidelines. Even though this plan's nature is macro in scope, it can still
influence how people and businesses behave and make decisions at the micro
level. Average and small businesses become hesitant to make private
investments and establish formal operations as a result of rising revenue
taxation. On the other hand, their customers will need to pay a price rise that is
less than the value attributed to the goods and services.
3. Tourism. He stated that he will deliver developments such as highway and road
improvements for more uncomplicated access to tourist spots. He will also
elevate the airports and build more international airports for tourists so that the
Manila International Airport won't be that overloaded and uncomfortable place for
tourists and citizens. We all know that Tourism is one of the industries that boost
the economy, with the proposed platform that President Marcos has for the
Tourism business, will surely increase the demand for travel experiences in the
Philippines and income growth for the business firms
b. What are your key takeaways on the first SONA of President Marcos? Explain at
least 2.
Each member of the group has a lot of takeaways on the first SONA of President
Marcos nevertheless we summed it up in two;
1. Agriculture and Health Services. He pledged to completely support farmers to

obtain in strategic industries such as high-tech manufacturing, health and
medical care, and all emerging technologies to facilitate economic growth outside
of Metro Manila. We firmly believe that it's vital that he focuses on agriculture and
health services because that's one of the things that the Philippines lack. Lack of
support to the farmers, and health facilities.
2. Emphasis on food sustainability, even if we hail from an urban district bigger
investments in farming inputs means greater food production which in turn leads
to lower prices, especially for consumers in the cities. PBBM wants to
systematically handle the rising costs of goods in the market, to be more precise.
It is a significant issue for both micro and macroeconomics and is an area that
requires careful consideration. Since the beginning of the pandemic, prices have
been steadily rising, which has made it harder for the nation—especially those
who live in poverty—to meet and sustain their fundamental demands.
c. What are your expectations of the new administration, like projects or things which
the past administration was not able to do and are expecting from the new
administration?
As a citizen of this nation, we will do what we can to support the incoming administration
to succeed. Aside from the plans he outlined, we anticipate the following:
1. Strengthen the Covid Management System. With the confirmed full return of
in-person instruction and the reduction in alert levels, PBBM should provide an
extensive Covid management strategy that will guarantee people's welfare and
raise both the micro and macro levels of the nation's economy.
2. Advancement of technology. As we all know, the internet connection in the
Philippines is extremely slow, and one of our expectations in the new
administration is to enhance the internet speed since most of the students,
teachers, and virtual workers are relying on the internet for doing their task and
jobs.
3. Lower fuel prices. Another expectation for the Marcos administration is to lower
fuel prices because of a domino effect. Somehow, the prices of transportation
and commodities will decrease.
4. Drugs will be one of the main problems of the Philippines again because he
didn't mention how he can solve drugs since President Duterte turn down his
offer to be his drug war ally in battling drugs in the Philippines.
In addition, the newly elected president should have plans to tackle the longstanding
problem of corruption in the government. Corruption and education; are not only
because he has major issues on both, those are crucial areas for any country to
consider if he wants to seriously become a progressive state.
References:
Adolfo, R., & Cuyco, J. (2022, July 25). Key points raised by Marcos in 1st SONA.
Interaksyon; interaksyon.philstar.com.
https://interaksyon.philstar.com/politics-issues/2022/07/25/223160/key-points-raised-by-
marcos-in-1st-sona/
Aning, J. (2022, July 25). Bongbong Marcos' first Sona: It's all about economy.
INQUIRER.net. Retrieved July 27, 2022, from
https://newsinfo.inquirer.net/1633568/marcos-first-sona-itsall-about-economy
Beckman, J., & Countryman, A. M. (2021, October). The importance of agriculture in the
economy: Impacts from covid-19. American journal of agricultural economics. Retrieved
July 27, 2022, from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8013523/
Effects of taxes. (n.d.). Retrieved July 27, 2022, from,
https://saylordotorg.github.io/text_introduction-to-economic-analysis/s06-01-
effectsoftaxes.html
Geducos, A. C. (2022, July 25). Marcos bares plans for economic recovery in First
sona. Manila Bulletin Retrieved July 27, 2022 from,
https://mb.com.ph/2022/07/25/marcos-bares-plansfor-economic-recovery-in-first-sona/
Malindog-Uy, A. (2020, August 23). Corruption amid a pandemic. The ASEAN Post.
Retrieved July 27, 2022, from https://theaseanpost.com/article/corruption-
amidpandemic
Beckman, J., & Countryman, A. M. (2021, October). The importance of agriculture in the
economy: Impacts from covid-19. American journal of agricultural economics. Retrieved
July 27, 2022, from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8013523/
Effects of taxes. (n.d.). Retrieved July 27, 2022, from
https://saylordotorg.github.io/text_introduction-to-economic-analysis/s06-01-
effectsoftaxes.html
Geducos, A. C. (2022, July 25). Marcos bares plans for economic recovery in First
sona. Manila Bulletin. Retrieved July 27, 2022, from
https://mb.com.ph/2022/07/25/marcos-bares-plansfor-economic-recovery-in-first-sona/
Malindog-Uy, A. (2020, August 23). Corruption amid a pandemic. The ASEAN Post.
Retrieved July 27, 2022, from https://theaseanpost.com/article/corruption-
amidpandemic
Mondonedo-Ynot, L. (2022, July 25). Summary: Ferdinand Marcos Jr.'s Sona 2022.
SUNSTAR. Retrieved July 27, 2022, from
https://www.sunstar.com.ph/article/1935934/manila/localnews/summary-
ferdinandmarcos-jrs-sona-20

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Basic Microeconomics: 1st SONA of President Marcos

1. Modernize farms and Food Crisis Response. President Marcos’s goal is to

In addition, the PBBM-managed Department of Agriculture promises to develop

2. Sound Fiscal Management. To improve fund management for the nation's

1. Agriculture and Health Services. He pledged to completely support farmers to

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