The Philippine economy can benefit from the weakening of the peso if production and supply constraints are addressed, Socioeconomic Planning Secretary Arsenio Balisacan said Wednesday.
In a chance interview with reporters at the sidelines of the Philippine Business Conference and Expo in Manila, Balisacan said that the Marcos administration’s economic managers are closely monitoring the situation, especially how the continued aggressive monetary policy tightening in the US can affect the peso.—the 13th time it hit an all-time so far this year—amid continued hawkish signals from the US Federal Reserve.
“You can benefit even more if we can quickly fix our supply bottlenecks, the constraints to production—poor infrastructure, logistics, high cost of power, high cost of water,” Balisacan told reporters at the sidelines of the PBC&E. However, the National Economic and Development Authority chief said losers are industries that heavily rely on imports.
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