To control the rise in commodity prices, the government's top objective, according to Trade Secretary…
The government prioritized assisting the “poor, vulnerable” with growing inflation.
One of the nation’s economic managers claimed on Tuesday that the Marcos administration places a high value on people from the poor and vulnerable sectors who are suffering the most as a result of rising prices for essential commodities.
Socioeconomic Planning Secretary Arsenio Balisacan stated during a press conference at the Palace that the government is trying to assist the poor Filipinos who are severely affected by the skyrocketing inflation.
“For those who have really affected adversely, especially the very poor and vulnerable groups, they will receive essential support from us,” Balisacan added. “For those who have actually affected adversely, especially the very poor and vulnerable groups.”
When asked if the executive department was considering accepting the Senate’s motion to provide its 3,000 rank-and-file personnel a one-time PHP50,000 inflation help, he responded with the remark.
Sen. Juan Miguel Zubiri, president of the Senate, declared on Monday that the Senate would increase the one-time inflationary allowance from PHP12,000 to PHP50,000 in order to protect its employees from the growing prices of necessities.
Congress can decide “on their own spending” because it is an “autonomous body,” according to Balisacan.
Employees of the executive branch receiving one-time inflationary support, according to Balisacan, is “not conceivable.”
As you are aware, we have very little financial room, he continued.
“Doon sa mga vulnerable talaga tayo naka-focus ngayon ati kaya dinadalian namin ‘yung mga difficulties restricting ‘yung digitalization natin ati kasi ‘yun ang makakatulong sa pag-ensure na ‘yung limited support natin ay makakarating talaga sa mga dapat matul To ensure that individuals in need receive some aid, we are tackling the problems impeding digitalization initiatives “Balisacan furthered.
Nonetheless, Balisacan pointed out that the Marcos administration is thinking of giving public servants even another round of annual compensation increases.
Talks about the anticipated pay increase, he added, are “still premature.”
He added that the administration is hopeful that inflation would decline “in the next months.”
“Inflation is being handled differently for you (We are affected differently by inflation). On the one hand, we’re attempting to determine whether the inflation expected in the upcoming months would be excessive, “said Balisacan. “We’re hoping that inflation has already reached a peak.”
According to a recent report from the Philippine Statistical Authority (PSA), the nation’s headline inflation rate increased slightly from 8.1 percent in December 2022 to 8.7 percent in January 2023.
According to the PSA study, rises in housing rent, power, and water rates, as well as the cost of vegetables, milk, eggs, fruits, and nuts, were the main causes of the January 2023 inflation.
President Ferdinand R. Marcos Jr. expressed optimism on February 7 that the decline in the cost of petroleum and imported agricultural goods would assist to control inflation.
Prioritizing increased agricultural productivity, expanding the food supply, and ensuring energy security as a way to temper upward price pressures, Balisacan previously stated that the government had identified measures to keep food price movements consistent with its inflation and food security objectives.***
We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru PayPal at https://paypal.me/SocialBoostVA😊❤️
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
2.) Be one of our SPONSOR and GET a website backlink. We can publish your PR stories, news articles, and company promotion for your products/services as additional exposure.
3.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).