In one of his first legislative acts, newly-inaugurated Philippines President Ferdinand Marcos Jr has vetoed a bill sponsored by his lawmaker sister that would have created a special economic zone north of the capital, the presidential office said on Saturday.
Marcos, 64, who took office on June 30 after winning the May election by a landslide, has inherited over $200 billion in government debt driven by his predecessor's pandemic response and the impact on the economy.
