President Ferdinand Marcos Jr. signs the Maharlika Investment Fund bill on Tuesday, July 18, 2023. (Photo from RTV Malacañang) MANILA, Philippines — President Ferdinand Marcos Jr. on Tuesday laughed off fears that the Maharlika Investment Fund (MIF) will be used for lavish expenses like cars and yachts. After signing the MIF bill, Marcos addressed questions asking why the money for the MIF cannot go directly to developing agriculture or infrastructure. READ: Bongbong Marcos signs Maharlika Investment Fund into law 'I would hear some people commenting, ‘hindi ba pag may pera tayong ganyan, may pondo tayong ganyan, dapat ilagay yan sa agrikultura, ilagay yan sa infrastructure, dapat ilagay yan sa energy development?' Nanunood ako ng television sabi ko, syempre kinakausap ko yung TV, ‘saan nyo kaya iniisip na ilalagay yan? Bibili kami ng magagarang kotse? Bibili kami ng malaking yate? Iyan ba yung iniisip niyo?' Marcos said while laughing.

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