Philippines’ Marcos pledges tax and investment reforms in national address

MANILA, July 25 (Reuters) – Philippine President Ferdinand Marcos Jr pledged on Monday to make his country a destination for investment and change its tax system, while implementing solid fiscal policy management.

Speaking before Congress in his first state of the nation address, Marcos, who won a May election in a landslide, said the country was targeting 6.5 to 7.5% gross domestic product growth this year. He said growth momentum remained firm but the recovery from the pandemic was still ongoing.

(Reporting by Karen Lema and Neil Jerome Morales; Writing by Martin Petty; Editing by Ed Davies)