spot_img
29 C
Philippines
Thursday, March 28, 2024

Popular support

- Advertisement -

Popular opinion is mixed on how martial law in Mindanao will affect the Philippine economy, according to the latest Social Weather Stations survey.

Forty-three percent of the 1,200 respondents nationwide said they believe martial law would have no effect on the economy, while 24 percent say it would be good and 33 percent say it would be bad.

In Mindanao, respondents are evenly split on how martial law would affect the economy (27 percent better; 27 percent worse) even as 46 percent believe it would have no effect.

In Metro Manila, 29 percent believe it would be for the worse and 23 percent say it would be for the better.

Respondents from the balance of Luzon and the Visayas are more widely split, with those saying the economy would be worse off with the imposition of martial law.

- Advertisement -

It is important to point out that Filipinos are nearly evenly split on whether martial law would affect the economy at all.

It is inconceivable that nearly half of respondents would believe that martial law would have no effect whatsoever on the country’s economic position. Of course a drastic measure such as martial law would have consequences, favorable or not.

If we are to go by official figures from the Board of Investments, for instance, the first six months of the year saw a significant year-on-year drop of 61 percent in investment pledges—from P17.74 billion to P6.87 billion.

Regions 10, 11 and 12 also registered drops in investment commitment—by 81 percent, 50 percent and 77 percent, respectively—in the first half of the year.

Of course, the reporting period commences way before the May 23 declaration of martial law, but it is not far-fetched to imagine how the terrorists’ attack on Marawi City, the government’s efforts to end the siege, and the displacement of thousands and the disruption of business could dampen the sentiment of the most enthusiastic of investors.

The survey was taken from June 23 to June 26, a month before Congress granted President Duterte’s request to extend martial law in Mindanao until the end of the year. When the respondents were interviewed, they likely believed martial law would only be good until July 22.

Government officials are of course wary to make pronouncements on how the peace and order situation in Mindanao will affect the economy in the long run. They have to toe the official line that martial law can only be good for Mindanao and for the country as a whole, because terrorists must be contained at all costs.

What would be better for Mindanao and the entire Philippines is business as usual, where there is no threat to the safety of the citizens and the security of businesses.

This is why the extension of martial law should not be seen as a free pass, or a prelude to a more permanent imposition. The sooner it accomplishes its objective and restores some form of normalcy to the South, and in fact push it toward achieving its immense potential, the better it will be for business and for the economy. On this, we don’t believe the opinions would be mixed.

- Advertisement -

LATEST NEWS

Popular Articles