Quick Glance: Marcos signs law establishing $9 billion sovereign wealth fund
- Philippine President Ferdinand Marcos has signed a law creating a $9 billion sovereign wealth fund to boost economic growth and infrastructure spending.
- Critics warn of potential misuse.
- The fund will be primarily funded by the national government, including the central bank, gaming revenue, and two state-owned banks.
- It aims to help the government achieve its economic growth targets and reduce reliance on foreign borrowing for new roads and bridges.
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