Economic team given 2 weeks to study Cha-cha

MANILA, Philippines – President Aquino has given the economic managers two weeks to review the implications of a Charter change.  

On Wednesday, August 1, Finance Secretary Cesar Purisima confirmed that President Aquino has given the team marching orders to conduct the study after the July 30 meeting among Aquino, Senate President Juan Ponce Enrile and House Speaker Feliciano Belmonte.

“We will report back to the president. We will have to do our homework first. We first have to do our research. We will look at the laws in other countries,” Purisima told reporters at the sidelines of the anniversary of the Bureau of Internal Revenue (BIR).  

“The president gave us two weeks to [conduct the] review,” added Purisima who is also the de facto economic team leader.

Aquino has not been keen about changing the 1987 Constitution, which was crafted during the administration of his mother, the late President Corazon Aquino.

The president reportedly told the Senate and House leaders that the economy is growing even without Charter change.

However, Belmonte had stressed that the proposed amendments to the Constitution will be limited to stumbling blocks to further economic growth, especially the 40% cap on foreign ownership of corporations. 

The results of the study, as well as how these will influence Aquino’s position on Charter change remains to be seen. – Rappler.com