In these video excerpts, President Marcos options questions on inflation all through a press conference after his first Cabinet meeting
MANILA, Philippine – President Ferdinand Marcos Jr. held his first Cabinet meeting on Tuesday, July 5, then held a press conference about what was talked about only a few hours later.
Reporters requested him about how he’ll sort out extreme prices of gasoline and meals driving inflation, pegged by the Philippine Statistics Authority to reach 6.1% in June.
In response, Marcos talked about his Cabinet is mulling additional gasoline subsidies for tricycle drivers. The Duterte administration had utilized such a program, saying in late June it was set to offer gasoline cash subsidy to over 600,000 tricycle drivers nationwide.
Marcos talked about authorities funds is perhaps enough to produce such subsidies in 2022 a minimal of, nonetheless that new funding sources should be acknowledged for previous that.
One different means his authorities would alleviate the financial burden of commuters is to proceed the free rides on the MRT3 line. Nonetheless, Marcos talked about this would possibly finally be “phased out” on account of extreme costs of such a program. As an alternative, free rides will be additional centered. As his transportation secretary launched, the Marcos authorities will allow all school college students to journey the LRT2, MRT3, and PNR with out spending a dime from August to November, or the first quarter of the upcoming school yr.
What about meals prices?
As for better prices of staples like corn, pork, rooster, and further, Marcos talked about rising native manufacturing of such commodities is his priority. He then recounted his meeting with Division of Agriculture officers on Monday. He reiterated that the rationale he decided to perform concurrent agriculture secretary is to focus on the problem of dear meals.
Notably on pork, Marcos talked about importing this product cannot be prevented given the African swine fever nonetheless affecting the native pork commerce.
Rising manufacturing of corn, which is used as feeds for livestock and poultry, could help decrease costs of pork and rooster. – MR