MANILA, Philippines — Business groups have renewed their call to the government to address corruption issues with full transparency and accountability, citing concerns over recent allegations on budget insertions and the peso’s new record low.
Philippine Chamber of Commerce and Industry president Enunina Mangio, in a message to The STAR, said the allegations linking President Marcos to budget insertions are concerning and may affect investor sentiment.
“Allegations of this nature are always concerning. It is precisely why we consistently call for transparency and accountability, and our clamor for the President to act with urgency to address the issue of budget insertion and very widespread corruption,” Mangio said.
Federation of Philippine Industries chair Elizabeth Lee said in a message that the peso’s slide to P59.17 against the dollar last Wednesday highlighted both global and local challenges.
Ongoing political conflicts, corruption allegations and recent natural disasters are weighing down public sentiment and slowing key sectors of the economy, including construction and investments, Sen. Sherwin Gatchalian told radio dzBB yesterday. — Neil Jayson Servallos
