BusinessWorld E-paper
July 19, 2023
PRESIDENT Ferdinand R. Marcos, Jr. on Tuesday signed into law a measure creating the Philippines’ first sovereign wealth fund, despite concerns raised by economists over its financing and management.
“The establishment of a sovereign wealth fund will widen the government’s fiscal space and ease pressure in financing public infrastructure projects,” he said in a speech at the signing of Republic Act No. 11954 or the Maharlika Investment Fund (MIF) law in Malacañang.
