The late Philippine President Ferdinand Marcos made a statement 20 years ago about how the Philippines will go down from its status before. The Philippines is considered one of the fastest developing countries in the South-East Asian region. It’s true that the US dollar-Php rate is just so far from today, but when you look at the debt of the country, it seemed that this made the status almost useless.
SOURCES:
- Data Source for GDP: The World Bank via www.tradingeconomics.com
- Data Source for Debt-GDP Ratio: The World Bank via www.tradingeconomics.com
- Data Source for PHP-USD Exchange Rate History: www.fxtop.com
The debt in the World Bank is purposed for the construction of many infrastructures to hopefully attract foreign investors and improve tourism. But, it seemed to be have fallen short, though, until this day, the structures are still present.
It is always a debate among people both young and old about the goodness of the life during Marcos’ time. Many say that it’s flourishing and some say it’s very hard.
There’s something that really intrigues many people about the abandonment of the Bataan Nuclear Power Plant made in the time of Marcos. This program was made possible in 1958 under the Republic Act 2067. The late President believes that the nuclear power plant is the solution for the country’s energy needs ad to decreased dependence in imported oil.
After Marcos was thrown out of office, President Cory Aquino decided to close the BNPP completely. Some of the reasons why the program was closed is because of the threat to public health, the location of the power plant (near an earthquake zone), and others.
About 20 years ago, President Marcos made a statement about the Nuclear Power Plant addressed to President Cory.
Watch the video carefully.
“Ang kabilin-bilinan ko kay Mrs. Corazon Aquino na ipatuloy ang Bataan Nuclear Plant kung maaari. Sapagkat, this is the solution in meeting the country’s energy demands and decreasing dependence on imported oil. Ngunit ayaw niyang tanggapin ang aking mongkahe dahil maaalala daw ng taong bayan si Marcos habang nandyaan ang Nuclear Power Plant. Anong klaseng pag iisip yan? Iyan ay paghihigante, huwag natin idamay ang sambayanang Pilipino. Balang araw makikita ninyo, 20 years from now bagsak na ang Pilipinas.” ~ Ferdinand Marcos, Hawaii, 1987.”
Pres. Marcos says how Pres. Cory Aquino should have continued the Bataan Nuclear Plant for the country’s sake. But Pres. Cory refused to do it saying that it would just remind the Filipino people of the “wrong doings” of Marcos did to the country.
Now, the Philippines now suffers energy scarcity in many areas.
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