Hard work ahead

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Hard work ahead
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MSEditorial 'Hard work ahead'

He must roll up his sleeves and prime the pump to reinvigorate the Philippine economy and get millions of Filipinos out of the poverty line.Like his predecessors, Mr. Marcos will focus on the economy on day one, identify the persistent problems that hobble and prevent it from making a full stride.

The Bangko Sentral ng Pilipinas expects the inflation rate in June to have reached as high as 6.5 percent due to weaker peso, higher oil prices and increased power rates. The Bangko Sentral ng Pilipinas, for one, noted the continued increase in domestic petroleum prices, upward adjustment in electricity rates, higher cost of key food items and the peso depreciation as the primary sources of inflationary pressures in June.The government must effectively contain COVID-19 cases across the Philippines.Food security will be another major concern of the new administration.It is high time the Philippines modernized the farming sector.

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