Diokno defends ‘cry baby’ remark: Gov’t concerned with plight of Pinoys

Since taking office in March, central bank governor Benjamin Diokno has cut the benchmark rate by 25 basis points and announced a phased reduction in the reserve requirement ratio (RRR) for banks, reversing some of the monetary tightening last year. Inflation has eased to the midpoint of a 2 percent to 4 percent target while economic growth slowed to a four-year low.

MANILA – Budget secretary Benjamin Diokno has stressed that the government is considerate of the plight of Filipinos, especially the poor, who are affected by the effects of the Tax Reform for Acceleration and Inclusion (TRAIN) Law.

Diokno made the remark in an interview on News To Go, where he was also asked to clarify his earlier declaration that Filipinos should be “less of a cry baby” amid rising prices.

Diokno replied that he has served in three administrations and that this was the first time he has been accused of elitism.

“I’ve been in government for 50 years. I’ve served under three presidents – Cory [Aquino], President [Joseph] Estrada, tsaka kay President [Rodrigo] Duterte. Ngayon lang ako tinawag na ganyan, elitista or…matapobre,” he told interviewer Howie Severino.

Ang hindi nila alam na talaga ang pakay ng gobyerno na pangarap namin talaga ay mabigyan ng maginhawang buhay ang bawat Pilipino,” he said.

Diokno added that only the Duterte administration has a target poverty reduction rate.

Kasi ang poverty incidence natin bumababa every year nang 0.5 percent lang e. Itong gobyerno na ito, ang plano namin is to reduce poverty from 25 to 14 percent by 2022 and zero poverty by 2040,” he said.

“So hindi nila masasabi na hindi natin iniisip yung karamihan ng mga kababayan natin,” he added.

Diokno pointed out that oil prices were even higher during the term of former President Gloria Macapagal Arroyo – which he said reached $162 per barrel – and yet the country survived.

Ngayon nga, maganda na nga yung kalakalan ng ekonomiya natin. I have not seen this kind of debt service,” he said.

Ang debt burden natin ngayon is down 40 percent and falling. Nung mga nakaraan, mga 100 percent yung utang natin. So things are clearing up and maganda ‘yung mga kondisyon natin,” he added.

The Budget chief said it is not the right time to suspend TRAIN Law as the country has yet to reap its benefits to the fullest.

Yung TRAIN, to me that’s a very beautiful and well-thought-out proposal. In fact, in-approve ng both houses of Congress. It’s not time for us to stop and reconsider. Hindi natin magagawa ang gusto nating gawin kung lagi tayong urong-sulong,” he said. (GMA News)

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