Overview
- President Ferdinand Marcos Jr. said on July 27 he will press corruption cases tied to billion‑peso flood‑control projects and that prosecutions could include his cousin, former House Speaker Martin Romualdez.
- In the same State of the Nation address Marcos proposed immediate cost‑of‑living measures including raising the annual non‑taxable income ceiling to 350,000 pesos and removing the system‑loss charge on electricity bills.
- Investigations and some indictments are already under way with the Office of the Ombudsman and prosecutors reported close to filing more cases against officials, contractors and lawmakers linked to the flood‑control anomalies.
- Security was tightened around the speech with more than 23,000 police deployed and small explosive devices found or detonated near government buildings in the days before the address.
- The graft scandal has already weighed on growth, the peso and markets and analysts warn Marcos’ relief plans lack clear funding details while the vice‑president’s impeachment and low public trust raise short‑term political risks.