# Explainer-What will a Marcos presidency in the Philippines look like?
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-05-10
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: What to Expect from a Marcos Presidency
Meta Description: Learn about Marcos Jr's policy agenda, expected approach, economic handling, and first moves as he prepares to take office as President of the Philippines.
URL: https://financedigest.com/explainer-what-will-a-marcos-presidency-in-the-philippines-look-likehtml

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By Martin Petty

(Reuters) – Ferdinand Marcos Jr has swept an election in the Philippines and will begin a six-year term as president at the end of June, capping off his family’s decades-long quest to regain power after it was driven out in a 1986 uprising.

Below is what to expect from a Marcos presidency.

WHAT DO WE [KNOW ABOUT HIS POLICY](https://www.financedigest.com/travel-insurance-small-print-what-you-need-to-know-loopholes-in-policies-that-could-cost-you-a-packet.html "Travel insurance small print – what you need to know Loopholes in policies that could cost you a packet") AGENDA?

Very little. Though notoriously divisive, Marcos campaigned predominantly on a message of unity, without saying how that would be achieved.

Commitments to voters have been vague, promising lower prices of basic goods, building infrastructure and steering the Philippines out of a pandemic-induced [economic slowdown](https://www.financedigest.com/the-demand-for-agile-banking-during-the-global-economic-slowdown.html "The demand for ‘Agile Banking’ during the global economic slowdown").

His ducking of presidential debates and interviews has frustrated opponents and some [business and academic groups](https://www.financedigest.com/ant-group-starts-to-differentiate-consumer-loan-business-jiebei-from-bank-loans.html "Ant Group starts to differentiate consumer loan business Jiebei from bank loans") have complained voters had no chance to hear him argue his vision.

His avoidance of scrutiny and dominance of [social media proved a winning strategy](https://www.financedigest.com/why-no-event-should-be-planned-without-a-social-media-strategy.html "Why No Event Should Be Planned Without a Social Media Strategy").

WHAT WILL HIS APPROACH BE?

Conventional wisdom suggests an autocratic approach would be a mistake given his late father’s dictatorial legacy, but Filipinos have shown desire for a strongman-type ruler.

Outgoing President Rodrigo Duterte’s ruthless, decisive approach garnered consistently high [public approval ratings](https://www.financedigest.com/sp-global-fined-1-1-million-euros-for-premature-credit-rating-publications.html "S&P Global fined 1.1 million euros for premature credit rating publications") and a cult-like following, which helped win control of the legislature and bureaucracy and tame independent bodies, making opponents think twice about taking him on.

Marcos will want to [avoid showing weaknesses so he can consolidate power fast and create](https://www.financedigest.com/5-mistakes-to-avoid-when-creating-passive-income.html "5 Mistakes to Avoid When Creating Passive Income") a favourable environment to initiate institutional changes to entrench the rule of his family and political and business network.

HOW MIGHT HE HANDLE THE ECONOMY?

[Major reform](https://www.financedigest.com/libor-reform-should-trigger-a-major-reassessment-of-corporate-treasuries-data-operations.html "LIBOR reform should trigger a major reassessment of corporate treasuries’ data operations") pledges could be too ambitious and backfire if like predecessors he fails to make meaningful progress. Marcos is [expected to be a continuity president](https://www.financedigest.com/explainer-india-g20-presidency-2023-what-does-it-mean-and-what-can-we-expect.html "Explainer-India G20 presidency 2023: what does it mean and what can we expect"), picking up from where the Duterte administration left off.

He is expected to focus on [reviving the country’s remittances and consumption-based economy](https://www.financedigest.com/china-steps-up-easing-cuts-lending-benchmarks-to-revive-faltering-economy.html "China steps up easing, cuts lending benchmarks to revive faltering economy"), and completing Duterte’s “build, build, build” infrastructure works, which were delayed by the pandemic. That would help Marcos show tangible results, while creating jobs and [boosting appeal among foreign investors](https://www.financedigest.com/aviva-boosts-investor-payouts-after-profit-beat.html "Aviva boosts investor payouts after profit beat").

Marcos will inherit a huge amount of [debt from the previous administration’s borrowing to support the economy](https://www.financedigest.com/ukraine-seeks-debt-payment-freeze-as-war-ravages-economy.html "Ukraine seeks debt payment freeze as war ravages economy") during the pandemic, which could limit his room to take on more debt to finance government projects or support growth.

Like Duterte, he will likely pursue [Chinese investment](https://www.financedigest.com/brexit-no-obstacle-as-chinese-overseas-property-investment-doubles.html "Brexit no obstacle as Chinese overseas property investment doubles"), which economists warn could come with onerous conditions on loan rates, labour, technology and raw materials and the risks of projects stalling or deals not materialising.

Marcos will [need to tread carefully](https://www.financedigest.com/smaller-lifetime-care-awards-means-accident-victims-need-to-take-more-investment-risk.html "Smaller Lifetime Care Awards Means Accident Victims Need To Take More Investment Risk"). Duterte’s overtures to [China had mixed results and surveys consistently showed Filipinos are mistrustful of Beijing](https://www.financedigest.com/beijing-nervously-returns-to-work-as-china-doubles-down-on-zero-covid-policy.html "Beijing nervously returns to work as China doubles down on ‘zero-COVID’ policy").

WHAT WILL HIS FIRST MOVES BE?

Critical to Marcos will be finding the right technocrats to run the [economy and he might experience](https://www.financedigest.com/impact-com-announces-partnerships-experience-event-ipx-bringing-together-all-players-in-the-partnership-economy-and-featuring-special-guest-trevor-noah.html "impact.com Announces Partnerships Experience Event, iPX, Bringing Together All Players in the Partnership Economy and Featuring Special Guest Trevor Noah") difficulties given the cronyism, nepotism and graft associated with the Marcos era. Some of the older, educated class that [joined the 1980s revolution](https://www.financedigest.com/hospitality-needs-to-join-the-contactless-revolution.html "Hospitality needs to join the contactless revolution ") might be hesitant, but might find themselves isolated if the political tide changes.

Continuity could be key and his best bet might be retaining technocrats from Duterte’s administration. Marcos’s alliance with incoming [vice](https://www.financedigest.com/soldo-welcomes-darren-upson-as-vice-president-of-small-business-europe.html "Soldo Welcomes Darren Upson As Vice President Of Small Business Europe") president Sara Duterte-Carpio – the president’s daughter – could help that.

To establish control, appointments in his cabinet, the bureaucracy, judiciary and armed forces will be among his [top priorities](https://www.financedigest.com/survey-finds-regulation-remains-top-financial-services-priority-for-2017.html "Survey finds Regulation Remains Top Financial Services Priority for 2017"). Marcos will have favours to return among loyalists, deals to make, and new alliances to [build and head](https://www.financedigest.com/bullish-outlook-for-pbsa-sector-in-2017-as-investment-builds-and-interest-heads-north-of-the-border.html "Bullish outlook for PBSA sector in 2017 as investment builds and interest heads north of the border") off a concerted effort by opponents to hobble him.

A government-appointed body tasked with [recovering billions of dollars](https://www.financedigest.com/dollar-demand-persists-even-as-stocks-recover.html "Dollar demand persists even as stocks recover") of missing Marcos-era wealth could be among the first victims of his presidency.

WHAT ABOUT LONGER TERM?

The Marcos family spent decades trying to get [back to power](https://www.financedigest.com/back-to-black-germanys-coal-power-plan-hits-hurdles.html "Back to black? Germany’s coal power plan hits hurdles"). It won’t be ready to give that up soon.

Marcos has not hinted at making structural changes, but some [political analysts believe he will use his presidency](https://www.financedigest.com/wickremesinghe-a-wily-political-survivor-elected-sri-lankas-president.html "Wickremesinghe, a wily political survivor, elected Sri Lanka’s president") to amend the constitution and change the democratic system, enabling the Marcos dynasty to rule for the foreseeable future.

His outright majority should [ensure a new congress and senate are aligned](https://www.financedigest.com/how-can-we-ensure-that-africas-energy-transition-aligns-with-its-development-ambitions.html "How can we ensure that Africa’s energy transition aligns with its development ambitions?") with him, and more sympathetic judges, allowing him to make the necessary changes.

WHAT’S HIS [FOREIGN POLICY](https://www.financedigest.com/ancs-failed-foreign-policy-hurting-south-africa.html "ANC’s failed foreign policy hurting South Africa")?

His win is more favourable to China than the United States, with Marcos expected to seek close ties with Beijing given its economic clout, but he would [need to manage](https://www.financedigest.com/looking-to-buy-a-rental-property-heres-why-you-need-a-property-manager.html "Looking to Buy a Rental Property? Here’s Why You Need a Property Manager") optics.

A shift away from the orbit of the United [States is unlikely and would be unpopular with millions](https://www.financedigest.com/wizz-air-loses-fight-against-67-million-in-state-aid-for-romanian-rival.html "Wizz Air loses fight against million in state aid for Romanian rival") of Filipinos whose relatives are U.S. citizens. A decades-old defence alliance is crucial too for the Philippine military, which Marcos will need on his side. Washington stands to lose strategically by distancing itself from Marcos.

He has shown pragmatism in stressing the need to avoid confrontation with Beijing in the [South China Sea](https://www.financedigest.com/north-korea-fires-artillery-into-sea-as-south-korea-and-u-s-pledge-cooperation.html "North Korea fires artillery into sea as South Korea and U.S. pledge cooperation"), but will be wary of appearing to capitulate. The military and public will [expect him to defend Philippine sovereign integrity](https://www.financedigest.com/application-specific-integrated-circuits-market-expected-to-reach-usd-33545-7-million-by-2026-tmr.html "Application Specific Integrated Circuits Market Expected To Reach USD 33,545.7 Million By 2026 – TMR"), even if only with rhetoric.

(Editing by Nick Macfie)


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