By Metro Manila (CNN Philippines, September 22) – The trust and approval ratings of President Ferdinand Marcos Jr. and his administration saw a sharp decline in the third quarter of 2023 over economic slowdown and the rapidly increasing prices of oil and basic commodities, a study conducted from Sept. 7 to Sept. 12 found.
“The survey shows significant drops in the approval rating of President Ferdinand Marcos Jr., with a decrease from 62% to 55% in PQ3 [PAHAYAG Third Quarter] compared to PQ2, and a trust rating decline from 54% to 47% in the same period,” read the non-commissioned PUBLiCUS Asia survey published on Friday.
Marcos’ self-appointment as Agriculture secretary was less well-received, as respondents’ approval rating fell from 57% in Q2 of 2023 to 53% in Q3.
“Vice President Sara Duterte also experienced a decline in approval, dropping from 67% in PQ2 to 62% in PQ3, and her trust rating decreased from 61% to 55% during the same time frame,” it said.
Ratings for Duterte’s self-appointment as Education secretary similarly fell from 66% to 60% this quarter.
Marcos’ Cabinet likewise saw a lower approval rating this time around: from 60% in Q2 to 53% in Q3.
Similar rating declines were observed in the Senate, the House, and the Judiciary leadership over the same period.
This comes after the Philippine economy slowed to 4.3% in the second quarter (Q2) of 2023, from 6.4% in Q1 2023, and 7.5% in Q2 2022.
National Statistician Dennis Mapa said this was the first time growth dipped to “below or at 4% level” since 2011.
Amid the economic slowdown, prices of commodities and services have been skyrocketing in the Philippines. For instance, oil prices have gone up for 11 consecutive weeks.
Rice prices also spiked in August, prompting the government to impose a ceiling of ₱41 per kilo on regular milled rice, and ₱45 per kilo for well-milled rice – a move which Marcos did not consult with his economic team.
Despite the downturn, Finance Secretary Benjamin Diokno, Budget Secteray Amenah Pangandaman, National Economic and Development Authority chief Arsenio Balisacan reiterated their confidence in the president.
“As surveys are primarily based on perceptions, not facts, let it be clear that on GDP [gross domestic product] growth, the Philippines’ real GDP growth of 5.3% in the first semester of 2023 in fact proved to be highest among emerging markets in the ASEAN-6, beating Singapore, Malaysia, Indonesia, Vietnam and Thailand,” the three economic team members said in a joint statement.
The country’s economic managers added that despite the survey results, they would continue working to boost the economy and achieve the country’s growth target even in the wake of economic uncertainty.