The World - News from July 23, 1985
Philippine President Ferdinand E. Marcos said his debt-ridden government has turned the corner on its worst economic crisis since World War II and is winning the war against Communist guerrillas. Opening a session of the National Assembly, Marcos called the war against the Communist New People’s Army “most critical.†He also said inflation is expected to drop to 10% this year from a high of 60% in 1981. Meanwhile, opposition legislators filed an impeachment resolution against Marcos, accusing him of sabotaging the economy by permitting huge overseas investments by his relatives and friends.
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