THE distribution of inflation assistance to poor families and government workers has not been discussed in the executive branch, National Economic and Development Authority (NEDA) secretary Arsenio Balisacan said.
Balisacan made the remarks on Tuesday, Feb. 21, a day after Senate President Juan Miguel Zubiri said Senate employees are set to receive a one-time P50,000 financial aid amid the record-high inflation.
However, the NEDA chief said the government would prioritize indigent families if such assistance is implemented.
“‘Yung very poor and vulnerable groups, ‘yun ang talagang pagbuhusan natin ng assistance. Hindi feasible na lahat naman ay pare-pareho ‘yung treatment as you know our fiscal space is very, very limited,” he said.
The Philippines recorded 8.7 percent inflation or the rate of increase in the prices of goods and services in January 2023, the fastest in 14 years.
Balisacan said the NEDA is expecting inflation to gradually ease as the harvest season starts.
To address the high inflation rate, the administration of President Ferdinand “Bongbong” Marcos Jr. is eyeing to lure in more investments and create more jobs.
Balisacan said the ratification of the Regional Comprehensive Economic Partnership (RCEP) will help in opening more investment opportunities in the country as he refuted claims the mega trade deal will hurt the local agriculture sector.
“There’s no truth to that… ‘Yung mga problema ngayon ng agriculture has nothing to do with RCEP. The problems were outcomes of past neglect of the sector. By ratifying RCEP, the country will be even more forced to pay attention to agriculture because only then can you fully maximize the benefits that RCEP can give to us,” he added. (GMA Integrated News)
