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New PH development plan: NEDA addresses inflation and economic damage

According to a senior National Economic and Development Authority (NEDA) executive, the recently approved Philippine Development Plan (PDP) 2023–28 includes measures to mitigate the effects of the pandemic and the high inflation rate.

According to NEDA Undersecretary Rosemarie Edillon, the government has undertaken many programs to lessen the effects of the pandemic and the higher inflation rate on Filipinos’ lives while the PDP is being implemented.

The extension of the effectiveness of Executive Order (EO) 171, she added, temporarily lowered tariff rates for a number of goods, including fish, chilled or frozen pork, rice, corn, and coal to address supply shortages and high costs.

She claimed that in addition to farmers and fishermen, the government offered gasoline subsidies to those involved in the transportation industry.

The impact of the current Russia-Ukraine conflict as well as weather-related variables was partly to blame for the raised prices of imported goods, which in turn led to an increase in the prices of various commodities on the local market.

According to Edillon, EO 171’s validity extension helps handle rising feed prices, which are necessary while the nation rebuilds its severely damaged swine industry.

She clarified that one of the objectives of the PDP 2023–28, which will be made public by the end of the year on the NEDA website, www.neda.gov.ph, is to address these concerns and assist many sectors, including the agriculture sector.

“All eight of the President’s Eight-point Socioeconomic Agenda’s points are incorporated in the Philippine Development Plan,” she declared.

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