I find this remark irritating as it is nothing but a hash over from the left-leaning anti-Marcos slogans intended to agitate the masses. The left-leaning street parliamentarians slowly show their true intent and color or connections with the "yellow cult" that took power in the post EDSA I "revolution".
Such comments should merely be shrugged off as irrelevant and passe, but there are still many critics out there who indeed share the same myopic view, and as if they're paying huge taxes or paying additional burdens sans enjoying the attendant benefits of the project.
Any spike in borrowings contemporarily is necessitated by the pandemic, and on the brighter side, the grant of loans is an indication of a positive economic diagnosis as indicated by a high credit rating.
I'm no expert in economics nor finances, but common sense says that which government or past administration has not incurred foreign debts? Even the private business sector does borrow not only to infuse capital for greater business reach, or profit from investment is greater than the interests paid on borrowings.
The Marcos administration was then widely criticized for foreign borrowings, one of which is for the Bataan Nuclear Power Plant. True, the nation failed to achieve the viable Return of Investment primarily because of the projects being scrapped by the Cory Administration "for the people to hate Marcos more".
Enough is enough; the people should support their government but be critical when it is proper.
The antis may paint a different picture of the state of the nation, but for one who has lived and worked under other administrations, I have to borrow the words of the then Finance and Prime Minister of the Marcos Administration, Cesar E.A. Virata, "The Filipinos had never had it so good".
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