Ferdinand Marcos

“ In support of economic efficiency and greater productivity, we shall seek from the Batasan legislation to over­haul economic incentive including fiscal privileges in order to reduce fiscal losses to the government and induce better performance.
In our productivity program social equity is our essential objective. We can only develop as a nation to the extent that we invest in our youth and in the well­being of our millions. No development can arise save from the talents, the energies, and the labors of our human resources. ”

“ But we convene at a time of testing and challenge for the nation. Our agenda is long and will not wait on ceremony or ritual, and we could all wish too that as in times past I can report to you today on the health, the vigor, and the prosperity of our national life. But we meet today in quest of national recovery from crisis, of vitality in the face of adversity. ”

“ Through all the mutations of political parties and creeds, we have always instinctively understood and recognized that while we are servants of our political allegiances, we are the nation’s above all. ”

“ In the systems and processes of our government and in the mandate we have both received from our people is the power to turn this time of challenge into a time of response. I have sought to describe here today the dimensions of the problems we face and I have pre­sented to you the program of response that befits the hour and the need. We cannot confront these problems and take up this program divided in our counsels, con­sumed by our hates and anger, and half-hearted in our labors for recovery and stability. ”

“ And like the good sons of a Republic, after we have saved our nation, after we have done all to keep it secure and stable, then there will be time enough for us to quarrel and match political strengths in accordance with our political processes. ”

“ These developments at midyear reflect the impact of crisis and adversity in the economy and our people. They also show the measure of our response—how resourceful, how courageous, and how resilient we can be in the face of crisis.
But the danger for us is not past. We have made only a start in the long road to economic recovery and stability. ”

“ First and foremost, we must and we will bring infla­tion down. Greater productivity will be for naught if incomes are shrivelled by high prices. We expect to contain inflation at 25 percent by the end of the year, God willing. And in the succeeding years of the program, we shall be relentless in cutting it down.
Second, we shall do all to protect and promote the welfare and rights of labor, and ensure a climate of industrial peace. ”

“ In industry, the structural adjustment program for the economy will be intensified with emphasis on ex­ports development, progressive energy, self-reliance, industry dispersal, and tourism promotion. But we must develop world-competitive and agro-based industries and intensify selective imports substitution.
With economic recovery in the West on the upswing, we not only should expect improved export perform­ance; we should aggressively promote a production of nontraditional manufactured goods and agro-based exports. ”

“ In such a spirit of collaborative effort, the common burdens that we face today are less heavy than they seem. And the gains we have made by the midpoint of the years are touchstones perhaps for the vindication of our hopes. ”

“ If our Republic falls it will not fall into our hands. It will fall into the hands of those who seek political power through the barrel of a gun. I know that some of our wide-eyed and innocent reformers seem to believe that they can use the subversive terrorists as their instrument to attain their end. ”

“ The coming months and years will determine whether we can have development under the rigors of financial discipline and austerity, whether we can bring about not just temporary relief and stability but sustained and authentic economic recovery and growth. ”

“ Our program recognizes the strategic role that agricul­ture must now play in the national recovery effort. We look towards increased agricultural productivity as the key to economic recovery and balanced agro-industrial development at this time when industry must undergo structural adjustments to reduce its import dependence.
In agriculture, sectoral reforms are now being implemented, and they focus on the gradual lifting of price ceilings and removal of market interventions which affect key commodities and agricultural inputs. ”

“ As the contribution of domestic energy resources increases, the country’s dependence on imported oil will drop to 50 percent by 1985 and further to 42 percent by 1987. On the other hand, our national electrification program will be pursued to raise electricity coverage to 62 percent of total rural households by 1987.
All these actions in agriculture and industry form part of our program for national productivity and self­reliance. ”

“ And it is just possible that we can arrive through consultation and counsel at a broad consensus of economic purposes and goals that will contribute greatly to economic recovery and growth.
As important as government consultation with the many sectors of our society is the need to look into the health and vitality of our government machinery for the tasks of development administration. Our program seeks changes in outlook, commitment in men and institutions. ”

“ The heart of this program connotes in essence a shift from import-dependent development strategy to indigenous and locally based development. It accepts the challenge to the nation to look within for deliverance, to tap the energies of our own people for growth. ”

“ To develop and strengthen the financial system, we shall encourage bank mergers and consolidation, longer-­term spending, regional dispersal of financial institu­tions; strengthen supervision and control of government financial institutions; and develop the capital market.
Let there be no doubt about our commitment to help our financial institutions to strengthen themselves and stabilize their operation. ”

“ Whenever in the judgment of the President, there exists a grave emergency or a threat or imminence thereof, or whenever the interim Batasang Pambansa or the regular National Assembly fails or is unable to act adequately on any matter for any reason that in his judgment requires immediate action, he may, in order to meet the exigency, issue the necessary decrees, orders, or letters of instructions, which shall form part of the law of the land. ”

“ Prudence designed to stabilize the balance of payments position will be followed to eliminate waste in government, to generate savings for productive and development activities, to strengthen comprehensive debt management, and to improve our tax administra­tion and collection effort. ”

“ And there is much rebuilding to be done.
In every time of ordeal for a nation, it is not so much the resources at its disposal, says the wise man, as it is the quality of leadership that finally decides the out­come. ”

“ To hold the line against inflation, the government implemented strict monitoring of prime commodities, and improvement in the marketing and distribution system to protect consumers from undue price increases and supply shortages. ”

“ Self-sufficiency will be sought in various agricultural products, particularly the feed grains sector, where recent production statistics for yellow corn have been most impressive. We envision self-sufficiency and the end of corn imports by 1984, and exportable surpluses by 1987. ”

“ Along with inflation, unemployment was a major area of concern. The aggregate employment level reached 18.7 million as of the first quarter of 1984. This implies an increase in unemployment rate to 6.3 percent from only 5.9 percent for the comparable period last year. ”

“ The minimum wages have already been adjusted twice this year for both nonagricultural and agricultural workers. Thus, the effective pay now stands at P51.92 and P50.83 for nonagricultural workers in Metro Manila and outside Metro Manila, respectively, and P42.40 and P32.00 for agricultural workers in plantation and non-plantation areas, respectively. ”