Diokno welcomes urgent certification of Maharlika Fund bill

Finance Secretary Benjamin Diokno welcomed President Ferdinand R. Marcos Jr.’s move to certify as urgent Senate Bill 2020 that seeks to create the Maharlika Investment Fund. “We welcome the certification of urgency of the Maharlika Investment Fund bill,” Diokno told reporters in a Viber message late Wednesday. “This is the best possible time to establish the fund.” The proposed bill is currently under the period of interpellations. Diokno said the Maharlika Investment Fund would strengthen the economy’s resilience through investment-led growth. “This is especially pertinent now amid a possible slowdown in the world economy, which the IMF (International Monetary Fund) predicts will grow by a mere 2.8 percent this year,” he said. Diokno noted that while the country’s macroeconomic fundamentals are intact, the Philippines must take advantage of robust instruments to maintain its growth momentum through investments in strategic, economically viable, and high-impact infrastructure and other development projects. “And second, this is an opportune time to take advantage of the ample liquidity of our government financial institutions, which have investible funds,” he said. Diokno earlier explained that the Maharlika Investment Fund is a tool to diversify the country’s financial portfolio, which includes existing institutions pursuing investment activities. The Fund will be used specifically for investments with high returns, and infrastructure development.

Source: Philippines News Agency