Former President Ferdinand Marcos stole billions of dollars?
The accusers of former President Ferdinand Marcos blatantly say that he stole billions of dollars from the government. The Philippines during that era couldn’t even generate such huge amount of funds considering the cost of all the projects on operations. In the 20 years of President Marcos’ rule (1965-1986), the total government budget was $24B only, while the debt of the Philippine government in the end of his rule, year 1986, amounted to $28B. This means that in the span of his 20-year rule, the Philippines had a $52B at its disposal. And if summed up, the construction costs of all Marcos’ projects would reach a staggering $100B! Upon analysis, how could he steal more billions from the government if the cost of his projects was far far greater in amount than the government budget and loans/debt combined? The big question should be where he got more money to fund the completion of all his projects?
Former first lady Imelda Marcos revealed in one interview that no government money was spent in the construction of her infrastructure projects such as the Cultural Center of the Philippines, Philippines International Convention Center, Folk Arts Theater, Manila Film Center, Philippines Heart Center, Philippines Lung Center, Philippines Kidney Center, etc. That’s the answer for those left wondering why the cost of all the projects was far greater than the government budget and loan combined—that no government money was touched on the construction of some of those projects.
Source: PSSAP, Philippine Yearbook Summary of Government Expenditures
Published By: Kilusang Bagong Lipunan (KBL) Admin