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Palace: Nothing to worry about inflation

 

By ARGYLL B. GEDUCOS

 

AMMAN, Jordan – Malacañang has assured the public that it is not ignoring and said that Filipinos have nothing to worry about the record-high 6.4 percent last month.

Presidential spokesperson Harry Roque, following statements from political analysts that the government can no longer control the Philippine economy, said that the government is already on top of things and is addressing concerns by importing oil and rice, and removing special safeguard measures when importing poultry to meet the demands of the public.

However, the Palace official, in a press briefing here, said that addressing inflation will not happen at a snap of a finger.

“So ibig sabihin po, ina-address po natin ang issue ng inflation. It will not happen overnight kasing itong inflation naman po, dahil din maraming masyadong pera na umiikot sa ating ekonomiya ngayon,” he said.

“Hinaharap po natin ‘yan. And the President has always said that the bucks stops with him,” he added. “So hinay-hinay lang po tayo. Normal pa po ‘yan. It’s higher than usual, but it’s nothing to be worried about.”

Roque also said that during a Cabinet meeting in Amman late Thursday night, it was agreed that Duterte will not stay true to his word to open warehouses so that rice being kept by hoarders can be released to the market.

Roque said that there is nothing to worry about because even though the inflation rate is high, the number of people unemployed is down.

“So talagang ito po nagpapakita na talagang masigla ang ekonomiya, mataas ang demand, limited ang supply, kaya tumataas ang presyo ng bilihin,” he said.

The Palace official also said that the high inflation rate is not a manifestation of a weak economy, citing a high gross domestic product, and low unemployment rate.

 

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