Reining in inflation remains the number one priority of the administration’s economic team, President Ferdinand Marcos Jr. said as the country continues to grapple with rising food and fuel costs. …
Reining in inflation remains the number one priority of the administration’s economic team, President Ferdinand Marcos Jr. said as the country continues to grapple with rising food and fuel costs.
A recent Pulse Asia survey released in October showed that 42 percent of Filipinos disapproved of the Marcos administration’s performance in controlling inflation, which has emerged as the top urgent national concern of Filipinos. Meanwhile, Socioeconomic Planning Secretary Arsenio Balisacan said that high inflation is expected to slow down the country’s economic growth by 0.6 percent than its expected level in 2023.
“But most importantly we are monitoring our developments closely so we can deploy our monetary tools, interest rate, and how we can intervene in our financial market to tame, including the depreciation of the peso,” he said. The conflict between Russia and Ukraine, and recent typhoons that devastated several agricultural areas in the Philippines will continue to affect the country’s economic outlook, Balisacan said.
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