Mitigating effects of inflation still top priority – Marcos

Mitigating the effects of inflation remains the “number one priority” of the administration’s economic team, President Ferdinand Marcos Jr. said on Tuesday. | DYGalvezINQ

Socioeconomic Planning Secretary Arsenio Baliscan earlier said the Philippines’ rising inflation was only temporary and expected to slow down with the government’s going after its targets.

He acknowledged that the rising inflation might slow down the Philippines’ economic growth and affect its poverty situation.“While we expect our poverty situation to improve as we continue our recovery, inflation and rising interest rate will mute this improvement,” he said. He added that the country’s economic managers remained optimistic that the economic prospects “remain bright as we get our priorities straight and our acts right.”

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