PCCI President George Barcelon to Karen Davila: “We are not bankrupt”

Here’s the reaction of PCCI President George Barcelon to Davila-Diokno’s interview

GEORGE BARCELON – The president of the Philippine Chamber of Commerce and Industry (PCCI) stressed that the country is not bankrupt.

George Barcelon and Karen Davila
Credit to the rightful owner of the photos

It was just recently when Bangko Sentral ng Pilipinas Governor and incoming Finance Secretary Benjamin Diokno had an interview with Karen Davila.

At one point, Davila told Diokno that he will face lots of challenges as incoming finance secretary since the country’s funds are lacking.

Karen even cited that the budget department has recommended a 200 billion peso increase for 2023 in lieu of the first year of Marcos administration.

According to her, some would say it won’t be enough considering the needs post-pandemic. She then asked him, what’s his plan as an incoming finance secretary.

For Diokno, the country is now in a better position despite the crisis that the Philippines went through.

He stressed that the Philippines now has more foreign reserves.

Diokno is also confident that the government would pay its debt since the Duterte administration is leaving with a good tax structure.

He lauded the Build, Build, Build program of the current admin that would help boost the economy.

The interview earned mixed reactions from the netizens.

Among those who reacted is no less than Philippine Chamber of Commerce and Industry (PCCI) President George Barcelon.

He even called Davila’s remark “presumptuous.”

“Yung comment, yung may nagtanong sa kanya and then made a presumptuous statement na bankrupt ang gobyerno natin, it is not true, we are not bankrupt,” the PCCI president said.

“As of present, we have close to $110 billion reserves that would be used for our requirements, both for the importation of goods and also for servicing our debt. So, that does not show, in a way, give a hint we are short of funds,” he added.

Davila has yet to release any statement following criticisms she has been receiving over her interview with Diokno.

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